Facebook Prophet

Prophet is a forecasting procedure implemented in R and Python. It is designed to handle missing data and large datasets efficiently. Users can easily tune the model to fit their specific needs.

Key Features

• Automated forecasting with customizable parameters
• Handles missing data and outliers
• Supports seasonal effects and holidays
• Fast computation for large datasets
• Works seamlessly with R and Python

Pros

• User-friendly interface for quick predictions
• Strong community support and documentation
• Open-source and free to use
• Flexible modeling options for diverse datasets

Cons

• Limited support for complex seasonal patterns
• May require tuning for optimal accuracy
• Not suitable for short-term forecasting
• Learning curve for advanced customization