Oracle Cloud Infrastructure (OCI) Forecasting is a fully managed service that uses machine learning and statistical algorithms to deliver highly accurate time series forecasts.
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Includes processes to automatically address preprocessing. Handles missing values, outliers, and quality issues; and aggregates temporal data.
Automatically selects the best training algorithm based on the fewest rolling over cross-validation errors and provides the three best-performing model results.
Outputs explainability and points out influential features in the data. Also provides confidence intervals to help with decision-making while considering variations.
Predict how many products a store will sell of each SKU using information such as historical sales, price, discounts, weather, and holidays. This helps ensure better promotion planning and inventory management.
Predict how many incidents or service tickets will arrive through various channels—such as phone, mail, and SMS text—using historical data, planned releases, service outages, holidays, and more. This helps predict resource utilization and near real-time resource requirements as well as improve customer satisfaction.
Predict hardware demand to support procurement, cut costs, and avoid losing customers due to unavailability.
Predict utility consumption, including water, electricity, and gas, for commercial and residential buildings at the tenant level to support procurement, save money, ensure efficient budget planning, and reduce waste.
Predict orders and shipments from one city to another for improved logistical planning, transportation decisions, and cost savings.
Akash Srivastav, Principal Product Manager, Oracle
Machine learning has changed the way data is used to predict future trends and opportunities. The new fully managed OCI Forecasting service provides time series forecasts through advanced machine learning and statistical algorithms without the need for data science expertise.Read the complete post
Oracle offers a Free Tier with no time limits on services that include Oracle Cloud Infrastructure Media Streams, Oracle Cloud Infrastructure Media Flow, and Oracle Cloud Infrastructure AI Services as well as US$300 in free cloud credits.
To participate, sign up for Oracle’s beta program and choose Forecasting LA Beta.
Explore forecasting and explainability and learn more about the service for free and without any special allowlist needed.
This reference architecture illustrates the relationship of various components with OCI Forecasting at its core. It provides recommendations for additional considerations, such as security, availability, performance, and cost, to build a forecasting environment for any use case.