oboloo

oboloo Glossary

Posterior Probability

oboloo Glossary

Posterior Probability

Posterior Probability: This is the likelihood of an event occurring after taking into account all available data and evidence. It differs from prior probability, which represents the likelihood of an event before any information has been gathered. Posterior probabilities are often used in investments, as they provide a better assessment of future outcomes based on current information. They can help investors make more accurate predictions and decisions, and increase their chances of success.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971