Amazon Web Services (AWS) is launching a new tool that uses machine learning for business analytics.
AWS’ Lookout for Metrics monitors key performance indicators (KPIs), such as web page views, mobile app downloads, numbers of active users, and income to detect anomalies and alert the organization so it can act.
It also makes action easier by grouping related anomalies together and offering potential root causes. It also ranks each anomaly by severity, so organizations know which issues require immediate attention and which can wait.
“From marketing and sales to telecom and gaming, customers in all industries have KPIs that they need to be able to monitor for potential spikes, dips, and other anomalies outside of normal bounds across their business functions,” said Swami Sivasubramanian, vice president of machine learning for AWS.
“But catching and diagnosing anomalies in metrics can be challenging, and by the time a root cause has been determined, much more damage has been done than if it had been identified earlier.”
AWS looks to make a splash in the world of business intelligence (BI), one of the most effective ways to use data. It can provide businesses with critical insights to help them make better decisions to foster a more productive and efficient organization, analyze how they can keep up with competitors, and grow their revenues beyond projections.
According to AWS, “In a couple of clicks, you can connect Amazon Lookout for Metrics to popular data stores like Amazon S3, Amazon Redshift, and Amazon Relational Database Service (RDS), as well as third-party SaaS applications, such as Salesforce, Servicenow, Zendesk, and Marketo, and start monitoring metrics that are important to your business.”
Lookout for Metrics is available to most US, UK, EU, and Asia-Pacific AWS customers via the AWS console and through supporting partners in the AWS Partner Network. Availability for additional regions is coming soon.
Amazon noted that Lookout for Metrics requires no specialist machine learning training to start using it.
AWS prices Lookout for Metrics in tiers according to the number of metrics per month your organization needs to track. The first 1,000 metrics cost 75 cents each per month. Metrics 1,001 through 5,000 are 50 cents each per month, and metrics 5,001 through 20,000 are 25 cents each per month. From 20,001 to 50,000 metrics are 10 cents each per month, and anything over 50,000 metrics is 5 cents per metric per month.
