What is Amazon Forecast?
Amazon Forecast is one of the AI-/ML-managed services available on the AWS cloud platform. Flexible and accurate forecasts are key in many business areas to predict demand and ensure inventory or raw material are stocked accordingly or predict wait times and ensure your counters are staffed accordingly. While all organizations use some form of forecasting process today, traditional methods cannot leverage the increasing quantity and complexity of time series signals available to us.
Managed services are services where the end users only bring their data and configure some parameters to suit their needs. All other tasks, considered as undifferentiated heavy lifting, are performed on the users' behalf by the service. This includes the automation of all the infrastructure management: as an Amazon Forecast user, you don't have to provision and manage virtual machines (VMs), configure user accounts, manage security, plan for scalability if your request...