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A New AGE Forecasting Model PROPHET
1Rishabh Das, 2Apeksha Raut, 3Prof.Shubhangi Mahadik, 4Ms. Gunjan Behl
1Bharati Vidyapeeth’s Institute of Management & Information Technology, Mumbai University.
2Bharati Vidyapeeth’s Institute of Management & Information Technology, Mumbai University.
3BVIMIT Associate Professor, Navi Mumbai
4BVIMIT Associate Professor, Navi Mumbai
Abstract
Product analysis is the most crucial part for all manufacturing business. It delivers the sales record of their present manufactured product and also helps the business owners to predict there product performance in the future. For this study, a PROPHET model is used with Time series forecasting. This paper will unfold the need of such model rather than using a simple regression model to predict the order demand. This study evaluates the Prophet model to forecast an sales and demand for the Product over a time period. Sales and Demand in Product is the integral part for planning all processes in supply chain, and therefore deciding on Product demand is crucial for supply chain. This research work has proposed the FBProphet tool for the Sales and Demand prediction. The findings demonstrate that the model can be used to predict future demand in the product manufacturing sector. These findings will aid business owners in developing a solid decision-making framework.
Keyword: PROPHET, Facebook, Seasonality, Holiday