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.
Read moreHow does Facebook Prophet model work?
At its core, the Prophet procedure is an additive regression model with four main components: A piecewise linear or logistic growth curve trend. Prophet automatically detects changes in trends by selecting changepoints from the data. A yearly seasonal component modeled using Fourier series.
Read moreIs Facebook Prophet a neural network?
As you can deduce from the name of the library, it’s pretty much good old Prophet on steroids, which in this particular case are Neural Networks .
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