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‫Now, let's talk about Amazon Forecast.

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‫And this is a very easy one

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‫because it allows you to do forecasts.

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‫So this is a fully managed services

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‫that will use machine learning

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‫to deliver a highly accurate forecast.

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‫For example, you want to predict the future sales

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‫of a raincoat.

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‫The idea is that it's going to be 50% more accurate,

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‫than looking at the data itself.

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‫And you reduce forecasting time from months to hours

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‫by using a managed service.

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‫So the use cases can be multiple,

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‫whenever you need a forecast.

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‫For example, product demand planning, financial planning,

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‫resource planning, and so on.

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‫So how does it work?

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‫Well, you take your historical time-series data,

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‫for example, and you also add your product features,

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‫prices, discounts, website traffic, store locations,

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‫basically, any kind of data you can

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‫to then enhance your model.

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‫Then you upload this into Amazon S3.

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‫You then start the Amazon Forecast service

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‫which will create a forecasting model.

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‫And you can use that forecasting model, for example,

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‫to say that your future sales

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‫of raincoats are going to be $500,000 next year.

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‫And that's it, super simple.

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‫Whenever you see forecasts at the exam,

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‫think Amazon Forecast.