Navigating the “Black Hole of Statistics”: Model Selection
A statistical toolbox in some ways is like an endless buffet. There are tons of statistical methods out there, ranging from linear models to statistical tests to neural networks. In addition, with increasing amounts of data, new applications from other fields, and increased computational power, methods are constantly being created or improved upon. Having so many possibilities, of course, has its perks. But researchers inevitably must face this daunting question: what method do you choose and why?