📈 Tired of spending countless hours fine-tuning statistical models for Time Series Forecasting?

🧙#Prophet can help!

🧵 THREAD🧵

👇👇👇👇

#MachineLearning #DataScience #Python #TimeSeries #AI #ML

Prophet is an open-source library developed by Facebook that simplifies the process for analysts and non-experts alike!

🔍 With traditional techniques such as:

🔹 ARIMA
🔹 Exponential Smoothing

adjusting parameters for accurate performance requires in-depth knowledge of underlying models...

But Prophet uses an additive regression model with:

🔹 non-linear trends

🔹 yearly, weekly, and daily seasonality

🔹 important events or holidays

Some of its key #advantages are:

🔹It is lightning-fast, thanks to its implementation in the C++-based statistical programming language Stan, Prophet

🔹It can handle missing data, outliers, and trend shifts with ease

🔹 user-friendly procedure for tweaking models

Whether you're a seasoned analyst or just starting out, Prophet makes time series forecasting more accessible and efficient than ever before.

You can discover more in this week's #article. In which we focus on the modeling of the Trend component.

mlpills.dev/time-series/time-series-forecasting-with-facebook-prophet-i/

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