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Forecasting Time Series Data with Facebook Prophet

You're reading from   Forecasting Time Series Data with Facebook Prophet Build, improve, and optimize time series forecasting models using the advanced forecasting tool

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Product type Paperback
Published in Mar 2021
Publisher Packt
ISBN-13 9781800568532
Length 270 pages
Edition 1st Edition
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Author (1):
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Greg Rafferty Greg Rafferty
Author Profile Icon Greg Rafferty
Greg Rafferty
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Table of Contents (18) Chapters Close

Preface 1. Section 1: Getting Started
2. Chapter 1: The History and Development of Time Series Forecasting FREE CHAPTER 3. Chapter 2: Getting Started with Facebook Prophet 4. Section 2: Seasonality, Tuning, and Advanced Features
5. Chapter 3: Non-Daily Data 6. Chapter 4: Seasonality 7. Chapter 5: Holidays 8. Chapter 6: Growth Modes 9. Chapter 7: Trend Changepoints 10. Chapter 8: Additional Regressors 11. Chapter 9: Outliers and Special Events 12. Chapter 10: Uncertainty Intervals 13. Section 3: Diagnostics and Evaluation
14. Chapter 11: Cross-Validation 15. Chapter 12: Performance Metrics 16. Chapter 13: Productionalizing Prophet 17. Other Books You May Enjoy

Using sub-daily data

In this section, we will be using data from the Divvy bike share program in Chicago, Illinois. The data contains the number of bicycle rides taken each hour from the beginning of 2014 through the end of 2018 and exhibits a general increasing trend along with very strong yearly seasonality. Because it is hourly data and there are very few rides overnight (sometimes zero per hour), the data does show a density of measurements at the low end:

Figure 3.4 – Divvy number of rides per hour

Using sub-daily data such as this is much the same as using super-daily data, as we did with the Air Passengers data previously. You as the analyst need to use the freq argument and adjust the periods in the make_future_dataframe method, and Prophet will do the rest. If Prophet sees at least two days of data and the spacing between data is less than one day, it will fit a daily seasonality.

Let's see this by making a simple forecast. We already...

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