Amazon ForecastForecast business outcomes easily and accurately using machine learning Show
Forecast 10,000 time series Scale operations by forecasting millions of items, using the same technology as
Amazon.com. Optimize inventory and reduce waste with accurate forecasts at a granular level. Improve capital utilization and make long-term decisions with more confidence. Increase customer satisfaction with optimal staffing to meet varying demand levels. How it worksAmazon Forecast is a time-series forecasting service based on machine learning (ML) and built for business metrics analysis.  Click to enlarge Use casesRetail and inventory forecastingReduce waste, increase inventory turns, and improve in-stock availability by forecasting product demand at specific probability levels Workforce planningForecast workforce staffing at 15-minute increments to optimize for high and low demand periods Travel demand forecastingForecast foot traffic, visitor counts, and channel demand to more efficiently manage operating costs CustomersHow to get startedDeploy recurring workflows with no-codeUse AWS CloudFormation and AWS Step Functions to set up repeatable and sustainable workflows. Get started here » Connect with an expertFrom development to enterprise-level programs, get the right support at the right time. Explore support options » Explore more of AWSAWS support for Internet Explorer ends on 07/31/2022. Supported browsers are Chrome, Firefox, Edge, and Safari. Learn more » AWS Cost Explorer is a tool that enables you to view and analyze your costs and usage. You can explore your usage and costs using the main graph, the Cost Explorer cost and usage reports, or the Cost Explorer RI reports. You can view data for up to the last 12 months, forecast how much you're likely to spend for the next 12 months, and get recommendations for what Reserved Instances to purchase. You can use Cost Explorer to identify areas that need further inquiry and see trends that you can use to understand your costs. You can view your costs and usage using the Cost Explorer user interface free of charge. You can also access your data programmatically using the Cost Explorer API. Each paginated API request incurs a charge of $0.01. You can't disable Cost Explorer after you enable it. In addition, Cost Explorer provides preconfigured views that display at-a-glance information about your cost trends and give you a head start on customizing views that suit your needs. When you first sign up for Cost Explorer, AWS prepares the data about your costs for the current month and the last 12 months, and then calculates the forecast for the next 12 months. The current month's data is available for viewing in about 24 hours. The rest of your data takes a few days longer. Cost Explorer refreshes your cost data at least once every 24 hours. However, this depends on your upstream data from your billing applications, and some data might be updated later than 24 hours. After you sign up, Cost Explorer can display up to 12 months of historical data (if you have that much), the current month, and the forecasted costs for the next 12 months. The first time that you use Cost Explorer, Cost Explorer walks you through the main parts of the console with an explanation for each section. Cost Explorer uses the same dataset that is used to generate the AWS Cost and Usage Reports and the detailed billing reports. For a comprehensive review of the data, you can download it into a comma-separated value (CSV) file. Topics
With Amazon Forecast, you pay only for what you use; there are no minimum fees and no upfront commitments. There are four different types of costs to consider when using Amazon Forecast:
Free TierFor the first two months of using forecast, customers receive up to 100,000 forecast data points per
month; up to 10 GB of data storage per month; and up to 10 hours of training per month. Pricing tables*Table 1: Generated Forecasts Data Points tiered pricing table Note: Customers generating forecasts using a predictor which has been trained with the legacy CreatePredictor API will continue to get charged $0.60 per 1,000 time series, which is the combination of items and dimensions, for reach quantile. Forecasts are rounded up to the nearest thousand. * *Table 2: Forecast Explanations tiered pricing table Pricing examplesPricing example 1 - Product Demand ForecastingLet’s say you own a clothing company and have 1,000 items selling in 50 stores around the world and are forecasting for product demand for the next 7 days at 1 quantile. Each combination of
an item and store location equates to one time series, so you’ll have 50K (1000 items x 50 stores) time series to forecast. Since you are forecasting at 1 quantile, you are forecasting for a total of 50K forecasts (50K time series x 1 quantile). At 7 days ahead forecasts with a weekly forecasting frequency, you are forecasting for 1 data point in the future with a total forecast data points of 50K (50K forecasts x 1 data point). Now let’s assume the following change: You are now forecasting 7 days ahead forecasts with a daily forecasting frequency. This translates to forecasting for 7 data points in the future with a total forecast data points of 350K (50K forecasts x 7 data points). Pricing example above is based on a single forecasting job in a month Pricing example 2 - Capacity PlanningLet’s say you own an energy company. You have 5K resident customers who use both gas and
electricity. Each combination of resident customer and types of energy equates to one time series, so you’ll have 10K (2 energy types x 5K resident customers) time series. Let’s assume you need to plan 24 hours ahead with an hourly forecast at 1 quantile, so you are forecasting a total data points of 240K forecast data points (10K time series X 1 quantile x 24 hours). You are adding a Price attribute and have selected to add the Holidays and the Amazon Forecast Weather Index built-in
datasets for predictor training. Let’s say that you are interested in learning what attributes are driving forecasts for your top 100 gas customers. The cost for forecast explainability will be as follows. Pricing example above is based on a single forecasting job in a month Additional pricing resourcesLearn more about Amazon Forecast Refer to developer guide for instructions on using Amazon Forecast. Sign up for a free account Start building in the console Get started building with Amazon Forecast in the AWS console. AWS support for Internet Explorer ends on 07/31/2022. Supported browsers are Chrome, Firefox, Edge, and Safari. Learn more » Which tool is used to forecast AWS spending *?AWS Cost Explorer enables you to view and analyze your AWS Cost and Usage Reports (AWS CUR). You can also predict your overall cost associated with AWS services in the future by creating a forecast of AWS Cost Explorer, but you can't view historical data beyond 12 months.
What type of forecasting Does Amazon use?Amazon Forecast is a time-series forecasting service based on machine learning (ML) and built for business metrics analysis.
What AWS forecasting tool can be used to view charts of spending data for up to the past 13 months?After you sign up, Cost Explorer can display up to 12 months of historical data (if you have that much), the current month, and the forecasted costs for the next 12 months.
What tool can be used to calculate AWS cost for a company?To forecast your costs, use the AWS Cost Explorer.
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