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AWS Forecast

AWS Forecast is a fully managed service that uses machine learning to deliver accurate time-series forecasts, helping businesses predict future outcomes such as product demand, resource needs, and financial performance.

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About AWS Forecast

AWS Forecast was launched by Amazon Web Services in 2019. It was created to help businesses leverage machine learning for generating precise time-series forecasts, addressing the need for accurate demand planning and resource allocation without requiring deep expertise in machine learning.

Strengths of AWS Forecast include its ease of use, integration with other AWS services, and the ability to generate accurate forecasts using machine learning without requiring specialized expertise. Weaknesses include potential high costs for large-scale usage and limited customization options compared to building bespoke models. Competitors include Google Cloud's AI Platform, Microsoft Azure Machine Learning, and IBM Watson Studio.

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How to hire a AWS Forecast expert

An AWS Forecast expert must have skills in machine learning, time-series analysis, and data preprocessing. Proficiency in AWS services, particularly Amazon S3 for data storage and Amazon SageMaker for model training, is essential. Knowledge of programming languages such as Python and familiarity with Jupyter notebooks are also important.

*Estimations are based on information from Glassdoor, salary.com and live Howdy data.

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