Book Image

Time Series Analysis on AWS

By : Michaël Hoarau
Book Image

Time Series Analysis on AWS

By: Michaël Hoarau

Overview of this book

Being a business analyst and data scientist, you have to use many algorithms and approaches to prepare, process, and build ML-based applications by leveraging time series data, but you face common problems, such as not knowing which algorithm to choose or how to combine and interpret them. Amazon Web Services (AWS) provides numerous services to help you build applications fueled by artificial intelligence (AI) capabilities. This book helps you get to grips with three AWS AI/ML-managed services to enable you to deliver your desired business outcomes. The book begins with Amazon Forecast, where you’ll discover how to use time series forecasting, leveraging sophisticated statistical and machine learning algorithms to deliver business outcomes accurately. You’ll then learn to use Amazon Lookout for Equipment to build multivariate time series anomaly detection models geared toward industrial equipment and understand how it provides valuable insights to reinforce teams focused on predictive maintenance and predictive quality use cases. In the last chapters, you’ll explore Amazon Lookout for Metrics, and automatically detect and diagnose outliers in your business and operational data. By the end of this AWS book, you’ll have understood how to use the three AWS AI services effectively to perform time series analysis.
Table of Contents (20 chapters)
1
Section 1: Analyzing Time Series and Delivering Highly Accurate Forecasts with Amazon Forecast
9
Section 2: Detecting Abnormal Behavior in Multivariate Time Series with Amazon Lookout for Equipment
15
Section 3: Detecting Anomalies in Business Metrics with Amazon Lookout for Metrics

How do you choose the right applications?

You have successfully framed your ML project as an anomaly detection problem, and you have collected some historical time series datasets. So, is Amazon Lookout for Equipment a good candidate to deliver the desired insights? Let's review some considerations that will help you to determine whether Amazon Lookout for Equipment is suitable for your anomaly detection scenario:

  • Latency requirements
  • Dataset requirements
  • Use case requirements

Latency requirements

With Amazon Lookout for Equipment, training must happen in the cloud. If your data is not available in cloud storage such as Amazon S3, the first step will be to transfer it there.

At prediction time, inference will also happen in the cloud. You will need to send your most recent data to the cloud, and the trained model will be generated and also stored in the cloud. As inference happens in the cloud, you will depend on the network latency between your local...