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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
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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

Using data with regular gaps

Throughout your career, you may encounter datasets with regular gaps in reporting, particularly when the data was collected by humans who have working hours, personal hours, and sleeping hours. It simply may not be possible to collect measurements with perfect periodicity.

As you will see when we look at outliers in a later chapter, Prophet is robust in handling missing values. However, when that missing data occurs at regular intervals, Prophet will have no training data at all during those gaps to make estimations with. The seasonality will be constrained during periods where data exists but unconstrained during the gaps, and Prophet’s predictions can exhibit much larger fluctuations than the actual data displays. Let’s see this in action.

Suppose that Divvy’s data had only been collected between the hours of 8 a.m. and 6 p.m. each day. We can simulate this by removing the data from outside these hours from our DataFrame:

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