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Perform Time series modelling using Facebook Prophet

In this project, we are going to talk about Time Series Forecasting to predict the electricity requirement for a particular house using Prophet.
What are the prerequisites for this project?
  • Install PyStan, Jupyter Notebook and Anaconda
  • Language used: Python

What will you learn

  • Time series forecasting using ARIMA
  • Time series forecasting using Prophet
  • Implementing Prophet
  • Knowing advantages of Prophet
  • Using Bayesian Method of forecasting

Project Description

There are various methods to perform time series forecasting. Traditionally people have used AR, MA or ARIMA based models to perform forecasting. Prophet is an open source forecasting tool built by Facebook. It can be used for time series modeling and forecasting trends in the future. The advantage of using Prophet over traditional libraries is that one does not need to know the technicalities of time series, domain knowledge is not really required to do time series forecasting. In this Hackerday we are going to use Prophet vs other methods to do the benchmarking.



What is Hackerday?

Stay updated in technology trends by working on projects

Live online coding sessions led by industry experts

Build 2-4 projects a month each lasting 6 hours designed to teach you advanced concepts

Code in groups and connect with your community