Simplifying Life Through Bayes: Hints for Practitioners New to Bayesian Inference. Issue 2 (1st January 2016)

• Record Type: Journal Article
• Authors: Tuyl, Frank; Howley, Peter
• Is Part Of: Quality management journal. Volume 23:Issue 2(2016)
• Page Start: 22
• Page End: 28
• Publication Date: 2016-01-01
• Subjects: binomial distribution -- Taguchi loss function -- variance components; Total quality management -- Periodicals; Personnel management -- Periodicals; Personnel management; Total quality management; Electronic journals; Periodicals; 658.56205 Q1 M2 J
• DOI: 10.1080/10686967.2016.11918469
• Languages: English
• ISSNs: 1068-6967

Abstract

Abstract : This paper explains why it is important to understand Bayesian techniques and how they are advantageous, even at a fundamental level, over the more traditionally taught classical, or frequentist-based, statistical techniques. The authors provide a brief introduction to the Bayesian approach and present an example of a scenario exhibiting some of the beneficial properties of Bayesian methods, including insights gained from their application in industry to overcome classical statistics-based problems. This example shows how Bayesian methods enable straightforward incorporation of constraints that result in sensible estimates, compared with ad hoc, and at times misleading or useless, classical approaches.