Note

Facebook Prophet is a powerful tool for forecasting time series data, but it may not always be the best choice. It is particularly useful when you have a time series dataset with multiple seasonality and non-uniform periods.

FB Prophet Modelling

Facebook Prophet is an open-source software for forecasting time series data.

Training and Forecasting using FB Prophet

  1. Load the dataset directly.

  2. Click on the Start Forecasting button to train the data on the Facebook Prophet model.

  3. Use the slider to adjust the forecast period, ranging from 1 year to 4 years.

  4. A master graph will be generated showing the forecasted values untill the choosen period.

  5. A couple of forecast components would also be displayed alongisde the master graph, namely Trend component graph, Seasonal component graph, Holiday component graph.