Accendo – So What is Up With this ‘Bayesian’ analysis stuff

July 28, 2020 @ 8:00 am – 9:00 am

By Chris Jackson

Some of you may have heard of ‘Bayesian analysis.’ You may think this is something fancy that only universities do. Or something we never do because it is all about ‘best guesses.’ Well … neither of these things are true.

Why would you be interested in Bayesian analysis? Simple. It allows you to use EVERY PIECE OF INFORMATION you have. This can be expert judgment. Or it can be test data on a similar ‘thing.’ Or it could be combining test data for one part of your ‘thing’ combined with test data for ‘all of your thing.’

Still not excited? Those of you who have to pay for and do testing or data analysis might. Bayesian analysis may shave days, weeks, months or years of your test schedule. And a lot of money.

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