Cost - Improving Forecast Accuracy with Machine Learning

Cost

You are responsible for the cost of the AWS services used while running this solution. At the date of publication, the cost for running this solution with the default settings in the US East (N. Virginia) Region is approximately $14.50 per 100 forecasts generated for one item, or approximately $76.62 per month, when deployed with a ml.t2.medium Amazon SageMaker notebook instance. Prices are subject to change. For full details, see the pricing webpage for each AWS serviceused in this solution.

Cost per 100 forecasts for one item

The solution uses the following resources that are billed per use.

AWS Service Quantity Total Cost
AWS Lambda

125 billed seconds of AWS Lambda

128 MB per Lambda function

$0.05
AWS Step Functions Approximately 6,000 state transitions $0.15
Amazon Forecast

100 forecasts

4 Predictor creations (2 hours each)

$9.60
Amazon Athena

500 GB of data scanned

$2.50
AWS Glue

5 DPU-hours

$2.20
TOTAL $14.50

Cost per month

This solution uses the following resources that are billed on a monthly basis. Note that the Amazon SageMaker notebook instance and Amazon QuickSight dashboard are optional.

AWS Service Quantity Total Cost
Amazon SageMaker 1 x ml.t2.medium notebook instance $33.46
Amazon Forecast 1.5 GB Data storage $0.13
Amazon S3 1.5 GB Data storage $0.03
Amazon QuickSight

1x Author

5 x Readers ($0.30/session or $5.00/month max)

$18.00

$25.00 (max)

TOTAL $76.62