Fisher Information

Fisher Information measures how much information a set of data provides about an unknown parameter of a statistical model. In simple terms, it quantifies the amount of uncertainty reduced when we observe data. The more Fisher Information we have, the more accurately we can estimate that parameter. For example, if we're trying to understand the average height of a population, collecting more precise measurements yields higher Fisher Information, allowing us to make better estimates and predictions. It's a fundamental concept in statistics, especially in fields like economics, medicine, and machine learning.