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Trend Modeling in Time Series Forecasting with Facebook Prophet
Latest   Machine Learning

Trend Modeling in Time Series Forecasting with Facebook Prophet

Last Updated on July 25, 2023 by Editorial Team

Author(s): David Andres

Originally published on Towards AI.

How does Prophet deal with changes in trend?

Photo by Cristian Escobar on Unsplash

Classical time series forecasting techniques rely on statistical models that require a significant amount of effort to fine-tune and tailor to specific industry data. This often involves adjusting parameters to ensure accurate performance, which requires in-depth knowledge of the underlying models.

Prophet is an open-source library developed by Facebook designed to simplify the process of forecasting time series data, making it accessible to both analysts and non-experts.

Some of the main advantages of the Prophet are:

Due to its implementation in Stan, a statistical programming language written in C++, Facebook Prophet is extremely fast.Models are based on additive… Read the full blog for free on Medium.

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