Thread by @mdancho84

I've been studying #Bayesian methods in #rstats since the beginning of this year.

The more I learn, the more excited I get about Bayesian.

Here's why...

One of the key R packages I've been experimenting with is BRMS (Bayesian Regression Models using Stan).

BRMS allows us to model a wide range of statistical models including:

- linear,
- count data,
- survival,
- multi-effects,
- non-linear (& more!)

The important point is that Bayesian modeling implements a special technique called Markov Chain Monte Carlo (MCMC).

MCMC is a game changer.

MCMC is a sampling technique that samples from a probability distribution.

By sampling, we can get close to the true distribution.

Making it possible to better estimate the probability surrounding the prediction.

Example of MCMC matching a distribution. 👇

Source: wikipedia

I'll be showing off what you can do with BRMS + MCMC for Business Analysis during my next learning lab (free webinar).

I'll have a full code demonstration showing my most important use #Business Use-Cases for how Bayesian can help.

Register Here: bit.ly/Bayes100