It works best with time series that have strong seasonal effects and several seasons of historical data. Prophet is robust to missing data and shifts in the trend, and typically handles outliers well . Seasonal effects caused by human behavior: weekly, monthly and yearly cycles, dips and peaks on public holidays.
Read moreIs the Prophet reliable?
Prophet certainly is a good choice for producing quick accurate forecasts . It has intuitive parameters that can be tweaked by someone who has good domain knowledge but lacks technical skills in forecasting models.10 May 2018
Read moreWhat does Facebook Prophet use?
Linear Growth : This is the default setting for Prophet. It uses a set of piecewise linear equations with differing slopes between change points.19 Şub 2021
Read moreWhat is Facebook Prophet model?
What is Facebook Prophet and how does it work? Facebook Prophet is an open-source algorithm for generating time-series models that uses a few old ideas with some new twists . It is particularly good at modeling time series that have multiple seasonalities and doesn’t face some of the above drawbacks of other algorithms.19 Şub 2021
Read moreWhat are Prophet models?
Prophet is an additive regression model with a piecewise linear or logistic growth curve trend . It includes a yearly seasonal component modeled using Fourier series and a weekly seasonal component modeled using dummy variables.
Read moreWhat is Facebook Prophet used for?
Prophet is used in many applications across Facebook for producing reliable forecasts for planning and goal setting . We’ve found it to perform better than any other approach in the majority of cases. We fit models in Stan so that you get forecasts in just a few seconds.
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