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The prior
Bayesโ rule lets us update a belief after observing data. The prior encodes our starting belief.
$$ P(\theta \mid D) = \frac{P(D \mid \theta) P(\theta)}{P(D)} $$
The posterior
As data accumulates, the posterior sharpens around the most plausible parameter values.
Conjugate families
Choosing a conjugate prior keeps the algebra closed-form, which makes computation simple.
1 | # simple conjugate Beta-Binomial update in R |
When to use it
Bayesian methods shine when we want interpretable intervals and the ability to inject domain knowledge.