Title: Back to Bayesics: Moving forward by looking back
Speaker: Sheldon Bernard (A440 Management)
Moderator: Neil Hamlett
Abstract:
In this webinar, we delve into the vital role that modern Bayesian Inference can play in augmenting decision analysis. Especially relevant in today’s complex landscape, the Bayesian framework offers a robust approach for navigating decision-making under uncertainty. In this talk we will explore a decision practitioner’s view of: the basics of Bayesian Inference, use of common machine-learning algorithms, Markov Chain Monte Carlo and Bayesian linear models. We will revisit the foundational connections between Bayesian Decision Theory, Inference, and Decision Analysis, exploring how contemporary Bayesian methods can significantly enhance decision analysis workflows. By serving as the common thread between the Behavioral Sciences, Decision Analysis, and Data Science, the Bayesian approach greatly extends the practitioners’ toolkit. Join us to explore how a Bayesian framework can be leveraged to improve strategic decisions.