Data Science - Time Series Forecasting with Facebook Prophet in Python - Time Series Basics Section Introduction

The video tutorial introduces the basics of time series, defining it as a series of numerical measurements recorded over time. It highlights the flexibility of the Prophet model compared to traditional methods like ARIMA and ETS, especially in handling missing values. The tutorial covers key tasks in time series analysis, such as fitting and forecasting, and explains the concept of forecast horizon. It also discusses traditional methods, ARIMA and ETS, and their limitations. Finally, it outlines how to evaluate forecasts using metrics, baselines, and walk forward validation.

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