Prophet is a forecasting procedure implemented in R and Python. It is fast and provides completely automated forecasts that can be tuned by hand by data scientists and analysts.
Time series forecasting is used in multiple business domains, such as pricing, capacity planning, inventory management, etc. Forecasting with techniques such as ARIMA requires the user to correctly determine and validate the model parameters (p,q,d). This is a multistep process that requires the user to interpret the Autocorrelation Function (ACF) and Partial Autocorrelation (PACF) plots correctly. Using the wrong model can easily lead to erroneous results.