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5 Reasons to Embrace Bayesian Statistics for Real-World Problems

·1 min
Bayesian-Statistics Statistics Opinion

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Why I’m Falling for #Bayesian Statistics…

  • Clear assumptions stated in the model through DAGs and priors.
  • Ability to work with limited data while still yielding reasonable results.
  • Incorporation of expert knowledge by defining priors and parameter relationships.
  • Results presented as distributions (posterior).
  • Easy model updates with new data.

Take a look at it, you won’t regret it.