Bayesian Analysis is blowing my mind.
Super useful for Business Analysis.
Hereβs why. π§΅
#DataScience #rstats #python
Super useful for Business Analysis.
Hereβs why. π§΅
#DataScience #rstats #python
Bayesian Analysis is blowing my mind.
You can use it for Business Analysis.
Plus, itβs got a special feature called Markov Chain Monte Carlo (MCMC) that is the secret sauce.
You can use it for Business Analysis.
Plus, itβs got a special feature called Markov Chain Monte Carlo (MCMC) that is the secret sauce.
MCMC is a sampling method that produces a more accurate posterior distribution in a Bayesian analysis.
Why is this important?
Why is this important?
Confidence.
MCMC is the secret sauce that improves over the frequentist algorithms.
MCMC is the secret sauce that improves over the frequentist algorithms.
Better confidence means a better understanding of risk, which is absolutely crucial in business.
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