has just been released. The new and big thing with version 14 is the introduction of Bayesian Statistics
. A wide variety of new models can now be estimated with Stata by combining 10 likelihood models, 18 prior distributions, different types of outcomes, and multiple equation models. Stata has also made available a 255-page reference manual
for free to illustrate Bayesian statistical analysis.
Of course R already offered numerous options for Bayesian Inference. It will be interesting to hear from colleagues proficient in Bayesian statistics to compare Stata’s newly added functionality with what has already been available from R.
Given the hype with big data and the newly generated demand for data mining and advanced analytics, it would have been timely for Stata to also add data mining and machine learning algorithms. My two cents: data mining algorithms are in greater demand than Bayesian statistics. Stata users will have to wait for a year or more to see such capabilities. In the meanwhile, R offers several options for data mining and machine learning algorithms.
To leave a comment
for the author, please follow the link and comment on their blog: eKonometrics
offers daily e-mail updates
news and tutorials
on topics such as: Data science
, Big Data, R jobs
, visualization (ggplot2
), programming (RStudio
, Web Scraping
) statistics (regression
, time series
) and more...
If you got this far, why not subscribe for updates
from the site? Choose your flavor: e-mail
, or facebook