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You are part of a team reviewing a proposal for a new data initiative that involves a collaboration with an external group. The lead data

You are part of a team reviewing a proposal for a new data initiative that involves a collaboration with an external group. The lead data scientist for the external partner mentions they will employ 'Bayesian methods' to solve the problem at hand. Your colleague in procurement asks you what this means. How would you answer this question? (response length approx. 4-6 sentences)

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