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#152

• Support & get perks (  / learnbayesstats  ) ! • Proudly sponsored by PyMC Labs! Get in touch at alex.andorra@pymc-labs.com (mailto:alex.andorra@pymc-labs.com) • Intro to Bayes (https://topmate.io/alex_andorra/503302) and Advanced Regression (https://topmate.io/alex_andorra/1011122) courses (first 2 lessons free) Our theme music is « Good Bayesian », by Baba Brinkman (feat MC Lars and Mega Ran). Check out his awesome work (https://bababrinkman.com/) ! Chapters: 00:00 The Importance of Decision-Making in Data Science 06:41 From Philosophy to Bayesian Statistics 14:57 The Role of Soft Skills in Data Science 18:19 Understanding Decision Theory Workflows 22:43 Shifting Focus from Accuracy to Business Value 26:23 Leveraging PyTensor for Optimization 34:27 Applying Optimal Decision-Making in Industry 40:06 Understanding Utility Functions in Regulation 41:35 Introduction to Obeisance Decision Theory Workflow 42:33 Exploring Price Elasticity and Demand 45:54 Optimizing Profit through Bayesian Models 51:12 Risk Aversion and Utility Functions 57:18 Advanced Risk Management Techniques 01:01:08 Practical Applications of Bayesian Decision-Making 01:06:54 Future Directions in Bayesian Inference 01:10:16 The Quest for Better Inference Algorithms 01:15:01 Dinner with a Polymath: Herbert Simon Thank you to my Patrons (https://learnbayesstats.com/#patrons) for making this episode possible! Links from the show: • Come meet Alex at the Field of Play Conference in Manchester, UK, March 27, 2026! https://www.fieldofplay.co.uk/ • A Bayesian decision theory workflow (https://daniel-saunders-phil.github.i...) • Daniel's website, (https://daniel-saunders-phil.github.i...) LinkedIn and (  / dr-daniel-saunders-97239b174  ) GitHub (https://github.com/daniel-saunders-phil) • LBS #124 State Space Models & Structural Time Series, with Jesse Grabowski (https://learnbayesstats.com/episode/1...) • LBS #123 BART & The Future of Bayesian Tools, with Osvaldo Martin (https://learnbayesstats.com/episode/1...) • LBS #74 Optimizing NUTS and Developing the ZeroSumNormal Distribution, with Adrian Seyboldt (https://learnbayesstats.com/episode/7...) • LBS #76 The Past, Present & Future of Stan, with Bob Carpenter (https://learnbayesstats.com/episode/7...)