Predicting the Future with Amazon Forecast

Presented by

Mark McQuade, Lead Solutions Architect, Data Science at Onica & Nasko Grozdanov, Solutions Architect, Data Science at Onica

About this talk

Forecasting is the science of predicting the future based on historical trends, and building that into your future plans. Companies today use everything from simple spreadsheets to complex financial planning software to attempt to accurately forecast future business outcomes such as product demand, resource needs, or financial performance. Even with these tools, there still remains a struggle to produce accurate forecasts for large sets of data that have irregular trends. Enter Amazon Forecast. Amazon Forecast is able to use machine learning to combine time series data with additional variables to build forecasts. This service falls in the AWS AI services suite and requires no machine learning experience to get started. You only need to provide historical data, plus any additional data that you believe may impact your forecasts. Once you provide your data, Amazon Forecast will automatically examine it, identify what is meaningful, and produce a forecasting model capable of making predictions that are up to 50% more accurate than looking at time series data alone. What we will cover: - The importance of time-series forecasting - The science of predicting the future - Introduction to Amazon Forecast - Walk through of how Amazon Forecast works - How you can get started with Amazon Forecast using your own data - Amazon Forecast demo

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