Amazon Web Services (AWS) on Thursday announced the general availability of Amazon Lookout for Metrics, a new Machine Learning (ML) service to help businesses monitor their performance.
The services are designed to help customers monitor the most important metrics for their business like revenue, web page views, active users, transaction volume, and mobile app installations with greater speed and accuracy, AWS, the Cloud computing business arm of Amazon, said on a statement.
With Amazon Lookout for Metrics, there is no up-front commitment or minimum fee, and customers pay only for the number of metrics analyzed per month.
The service also makes it easier to diagnose the root cause of anomalies like unexpected dips in revenue, high rates of abandoned shopping carts, spikes in payment transaction failures, increases in new user sign-ups, and many more – all with no machine learning experience required.
“We’re excited to deliver Amazon Lookout for Metrics to help customers monitor the metrics that are important to their business using an easy-to-use machine learning service,” Swami Sivasubramanian, Vice President of Amazon Machine Learning for AWS, said in a statement.
AWS said that Lookout for Metrics automatically inspects and prepares the data, selects the best-suited machine learning algorithm, begins detecting anomalies, groups related anomalies together, and summarizes potential root causes.
For example, if a customer’s website traffic dropped suddenly, Amazon Lookout for Metrics can help them quickly determine if an unintentional deactivation of a marketing campaign is the cause, the company said.