Summary

This chapter introduced you to the development of Prophet, from the idea’s genesis up to the theoretical formulation. This chapter provided, however, just a summary of the mathematical equations that describe how Prophet works. For full details, please refer to the original paper describing Prophet: Taylor, S. J. and Letham, B. 2017. Forecasting at scale. PeerJ Preprints 5:e3190v2 (https://doi.org/10.7287/peerj.preprints.3190v2).

Now that you understand how Prophet works, the remainder of this book will be spent demonstrating all of the parameters and additional features available that allow you to have greater control over your forecasts. In the next chapter, we’ll take a look at non-daily data to see what precautions and adjustments need to be taken, thereby preparing us to handle datasets with different time granularities.