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Forecasting Time Series Data with Prophet

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

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Product type Paperback
Published in Mar 2023
Publisher Packt
ISBN-13 9781837630417
Length 282 pages
Edition 2nd Edition
Languages
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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 (20) Chapters Close

Preface 1. Part 1: Getting Started with Prophet
2. Chapter 1: The History and Development of Time Series Forecasting FREE CHAPTER 3. Chapter 2: Getting Started with Prophet 4. Chapter 3: How Prophet Works 5. Part 2: Seasonality, Tuning, and Advanced Features
6. Chapter 4: Handling Non-Daily Data 7. Chapter 5: Working with Seasonality 8. Chapter 6: Forecasting Holiday Effects 9. Chapter 7: Controlling Growth Modes 10. Chapter 8: Influencing Trend Changepoints 11. Chapter 9: Including Additional Regressors 12. Chapter 10: Accounting for Outliers and Special Events 13. Chapter 11: Managing Uncertainty Intervals 14. Part 3: Diagnostics and Evaluation
15. Chapter 12: Performing Cross-Validation 16. Chapter 13: Evaluating Performance Metrics 17. Chapter 14: Productionalizing Prophet 18. Index 19. Other Books You May Enjoy

Creating a custom trend

A key advantage of open source software is that any user can download the source code and make their own modifications to better suit the software to their own use case. Although nearly all common time series can be appropriately modeled with the three trend modes implemented in Prophet (piecewise linear, piecewise logistic, and flat), there may be cases when you need a different trend model than provided; as Prophet is open source, it is relatively easy to create whatever you need. A quick caveat though: it is relatively easy only conceptually. Mathematically, it can be quite complex, and you must have solid software engineering skills to understand how to modify the code successfully.

Let’s look at an example of what is possible. Consider a small clothing retailer, which updates its collection for each season:

df = pd.read_csv('../data/clothing_retailer.csv')
df['ds'] = pd.to_datetime(df['ds'])

Daily sales are...

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