Cloud Hosting

Since its launch, Facebook Prophet has made a name for itself in the e-commerce industry. Based on past sales data, seasonal trends and special events such as promotions or sales, this Python library can provide accurate forecasts.

This enables companies to better manage their inventories, plan their marketing campaigns and anticipate peaks in activity.

Similarly, in the financial sector, Prophet has changed everything by making it possible to analyze historical revenue and profit data to identify trends and seasons.

With this crucial performance forecasting information, decision-makers are able to anticipate periods of growth and slowdown for budget planning and investment choices.

Investors and other financial institutions can also use it to predict fluctuations in share prices, exchange rates or commodity prices. In this way, they can minimize risk.

In the healthcare sector, the tool can be used to predict time series of medical data. This includes, for example, hospital admissions, medical consultations and infection rates.

As a result, hospitals can better plan their resources, anticipate peak activity periods, and ultimately provide better patient care.

Read more:

Facebook Prophet : All you need to know - DataScientest