The century of Bayes

While many in marketing research have probably heard something about ‘Bayesian analysis’, chances are they are not quite sure what it is or what, if anything, would make them want to use it.
  

The Century of Bayes

Joseph J. RetzerMaritz Research

A BIT OF HISTORY

The Bayesian 'machine' together with MCMC is arguably the most powerful mechanism ever created for processing data and knowledge.

(Berger 2001)

In 1763 the Reverend Thomas Bayes,...

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