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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 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 to 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 4.4 – Number of Divvy rides per hour

Figure 4.4 – Number of Divvy rides per hour

Using sub-daily data such as this is much the same as using super-daily data, requiring what 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 daily seasonality.

Let’s see this in action by making...

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