Now Bayesian statistics are rippling through everything from physics to cancer research, ecology to psychology. Enthusiasts say they are allowing scientists to solve problems that would have been considered impossible just 20 years ago.
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onto Decision Intelligence News August 9, 2015 8:19 PM
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Bayesian statistics are increasingly important, and this article is an accessible introduction. The basic idea: calculate statistics as conditional on something else: the probability of cancer *given that* you're a woman over 50; the likelihood of revenue growing more than 50% *given that* your competitors don't launch a new marketing campaign.
Relevant to DI because there's a close relationship between propagating causation in the world and propagating probability (indeed, we might think of the observed probability as the epiphenomenon of the underlying causative link, modulo causation/correlation). So a Bayesian model can be implemented in a decision model, in those circumstances when probability analysis is the right formalism to solve a particular problem.