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

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...