Forecasting with VAR and Prophet

Valentina Djordjevic Technology 4 Comments

In my previous post, I tried to present the ARIMA model for forecasting. It was based on the use of autoregression and moving average concepts, combining the regression of variable based on its lagged values and calculation of error based on the linear combination of error terms occurred in the past, respectively. In this post, we’re going to talk about VAR and Prophet as alternative models. The main problem was that developed ARIMA model could not be applied to predict the output  for all of different objects we ran the forecasting for, which was the principal idea. As we dug …