Amazon launched Lookout for Metrics earlier today. Within the framework of machine learning, this fully managed service efficiently manages business metrics, keeping an eye out for key factors that affect the health of a particular enterprise and create roadblocks that challenge growth. The tool was launched last December at re:Invent 2020, in preview. Customers can now access Lookout for Metrics using the AWS console through supporting partners.
Metrics or Key performance indicators are crucial to the successful running of a business. It is to the business what health check ups are to the body. Keeping a tab on them ensures that we are braced with appropriate shields to face the challenges that lie ahead. Similarly, through analysis of metrics, enterprises are elevated to a position from where they can take decisions that will ensure the effective and efficient running of the business. Businesses usually use traditional business intelligence tools. However they come with the downsides. Because accurate identification of anomalies across disparate data sources is challenging and it requires sharpness and precision, which aren’t always the key points when it comes to traditional methods.
One reason for this is that traditional methods adhere to rules that search for data that is outside numerical ranges. Resultantly, these ranges remain static, unchanging even in response to changing conditions like time of the day, week, or seasons. This is where Lookout for Metrics offers a suitable solution. By using machine learning technology, it automatically inspects indicators like revenue, mobile app installations, web page reviews, active users etc. In addition to that, the tool also helps to get to the bottom of the anomalies, discern the root causes and to come up with suitable measures. This is done by grouping related anomalies together and summarizing the possible causes. Unexpected revenue dips, payment transaction failures etc. can be easily detected with Lookout for Metrics. When the cause is known, it is easier to address the issue and to arrive at a solution that is sharp and to the point. When the service returns the results post inspections, it enables the developers to provide feedback regarding the relevance of the same, thereby allowing to polish the accuracy.
Lookout for Metrics can be easily connected to 19 popular data sources like Amazon CloudWatch, Amazon Redshift etc. The service also enables customers to set alerts or actions by connecting to notification and event services.
Initially the availability of the service is limited to a few locations namely, US East(N.Virginia, Ohio), US West(Oregon), EU(Ireland, Stockholm), Asia Pacific(Singapore, Sydney, Tokyo) AWS regions. According to the reports released by Amazon, the service will be made available to additional regions in the next few m0nths.