👉 The Prophet is a powerful forecasting tool developed by Facebook's AI Research (FAIR) lab, designed to predict time series data with high accuracy. It leverages a deep learning approach that combines traditional statistical methods with modern neural networks, making it particularly adept at handling seasonality, trends, and multiple seasonality in data. Prophet decomposes time series into three main components: trend, seasonality, and holiday effects, which are automatically learned from the data without requiring extensive manual tuning. This makes it user-friendly for those without deep expertise in time series analysis, while still delivering robust and interpretable forecasts. Its ability to incorporate external regressors allows for the inclusion of additional context, such as economic indicators or weather data, further enhancing its predictive power.
