What Does Bayesian Statistics Mean?
Bayesian statistics is a type of dynamic probability statistics commonly used in today’s world of artificial intelligence and machine learning. These technologies seek to go beyond pure linear programming to a more probabilistic approach. Bayesian statistics complements this idea, because a Bayesian statistical approach is more sophisticated and based on a different probabilistic foundation than “frequentist” statistics that have been the most common type of statistical analysis done to date.
Techopedia Explains Bayesian Statistics
Frequentist statistics simply take the probability of a given event based on known test sets of a specific number. By contrast, Bayesian statistics take probability and allow it to express a “degree of belief” in an outcome, and establish reasoning based on hypotheses. Bayesian statistics was first pioneered in the 1770s by Thomas Bayes, who created the Bayes theorem that puts these ideas to work.
