What is Bayesian analysis and when should I use it?

Bayesian analysis is a statistical method that incorporates prior knowledge or beliefs about a parameter into modelling, with subsequent updates based on new data to refine estimates.

You should use Bayesian analysis in these situations: when you have limited observations insufficient for classical statistical methods; when you need to model inherently dynamic or uncertain data; and when you require uncertainty quantification and the ability to refine conclusions as new evidence arrives. It is particularly powerful for complicated and dynamic modelling where prior knowledge can significantly improve predictions and inferences.