Bayesian statistics draws inferences from data in a way that makes sense to ordinary humans. It directly addresses the questions people naturally ask, rather than inverting the questions for technical convenience.
Bayesian inference allows you to bring together all sources of information, subjective and objective. You can combine expert opinion and intuition with data, weighing each in the proportion appropriate for your situation. The weight given different kinds of information automatically adjusts according to the quantity and quality of each.
Because of this ability to adjust to new information, Bayesian methods naturally lend themselves to adaptive decision making, updating the representation of your knowledge of the world as new data become available.
Our team has decades of experience applying Bayesian methods in a wide variety of areas, including cancer treatment, drug development, engineering, and finance. We have extensive experience in Bayesian analysis and especially in the computational techniques necessary to make Bayesian methods practical.
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