Shobha
The best way to predict the future is to invent it
What is the role of Bayesian methods in data analytics, and how do they compare to frequentist approaches?
Bayesian methods incorporate prior knowledge and update predictions based on new data, offering more flexibility and adaptive learning. In contrast, frequentist methods rely solely on the current dataset, without accounting for prior beliefs.For example, In predicting a patient’s health condition, Bayesian methods would incorporate past medical history, while frequentist methods would focus only on current symptoms.