Forecasting Payables in Financial Industry using Prophet Algorithm

Abstract

In the realm of finance, accurately predicting payables is crucial for effective financial management and planning. Traditional forecasting methods may fall short in capturing the complex patterns inherent in financial data. This paper proposes the use of the FbProphet model, a robust time-series forecasting tool developed by Facebook, for predicting payables in the finance industry. The paper provides an introduction of FbProphet, review relevant literature, detail our methodology for implementing the model, present empirical results, and offer conclusions on the effectiveness of FbProphet for payable prediction.