Amazon Personalize and Amazon forecast- Machine learning at your disposal
Amazon Personalize- Real-time personalization and recommendation
Developers can create individualized recommendations for customers using their applications by employing Amazon Personalize, a top rate AWS machine learning service. Although Machine learning is being widely used to perk up customer engagement by powering personalized product and content recommendations, targeted marketing promotions and tailored search results, developing the machine-learning capabilities essential to produce these highly sophisticated recommendation systems has been virtually out of reach of most organizations simply due to the complexity. Amazon Personalize lets developers with no previous machine learning experience to effortlessly build highly sophisticated personalization capabilities into their applications, using machine learning technology perfected by virtue of several years of non-stop use on Amazon.com.
You can provide inventory of the items you want to recommend, such as products, articles, videos or music and also activity stream from your application – clicks, purchases, page views, signups and so forth, with Amazon Personalize. You can also opt to supply Amazon Personalize with demographic information from your users such as age, gender or geographic location. Amazon Personalize will steadfastly process and examine the data, recognize what is meaningful, choose the right algorithms and train and optimize a personalization model that is tailored for your data. No data analyzed by Amazon Personalize is made public. Analyzed data is kept private and absolutely secure, and only utilized for your customized recommendations. You can serve personalized recommendations by means of a simple API call. No upfront commitments are required and no minimum fees are chargeable. You have to pay only for what you use. Amazon Personalize is like having Amazon.com machine learning personalization team at your beck and call, round the clock.
Amazon Forecast- Precise time-series forecasting service
A fully managed service, Amazon Forecast delivers highly accurate forecasts using machine learning. Companies today utilize everything from uncomplicated spreadsheets to highly complex financial planning software to attempt accurate forecast of future business outcomes such as resource needs, product demand or financial performance. Historical series of data called time series data is used by these tools to build forecasts. For example, such tools may attempt to forecast the future sales of a raincoat by taking into account only its previous sales data with the basic assumption that the future is determined by the past. This approach can fail to produce correct forecasts for large sets of data that exhibit uneven trends. Also, it fails measurably to combine data series that change over time (such as number of employees, price, discounts and web traffic) with independent relevant variables like store locations and product features.
Relying on the technology used at Amazon.com, Amazon Forecast employs machine learning to coalesce time series data with other variables to build forecasts. Prior machine learning experience is not required to get started with Amazon Forecast. Only requirement is to make available historical data, plus any additional data that can impact forecasts. For example, the demand for a shirt of a particular color may rise or fall with the change of seasons and store location. This complex relationship is tough to determine but machine learning is supremely capable of recognizing it. Amazon Forecast will automatically scrutinize the data provided by you, identify steadfastly what is meaningful, and produce a forecasting model capable of making up to 50% more accurate predictions than predictions made by looking at time series data alone. Like Amazon Personalize, Amazon Forecast is also a fully managed service. Hence you don’t need to provision servers or build, train, or deploy machine learning models. You don’t need to worry about upfront commitments or minimum fees as these don’t exist. Pay only for whatever you use.
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