Bayesian Forecasting
Explore Bayesian forecasting principles and apply them using the PyBATS Python package to model and predict time series data. Understand how to set prior distributions, draw forecast samples, and adjust parameters to improve your forecasts.
We'll cover the following...
We'll cover the following...
Learning Bayesian logic
Before we move on to forecasting, let's first see the principles behind Bayesian statistics and how it works.
Bayesian models get that name because they rely on the famous Bayes’ theorem below: