Bayesian Data Analysis

Bayesian Data Analysis is a statistical approach that uses Bayes' Theorem to update our beliefs about a situation as new data becomes available. Instead of starting with fixed assumptions, it combines prior knowledge (what we believe before seeing data) with observed data to derive more accurate conclusions. This method allows for a flexible interpretation of uncertainty and helps make informed decisions by continually refining our beliefs based on evidence. It's widely used in fields like medicine, economics, and artificial intelligence to improve predictions and insights.