I only have a tenuous grasp of Bayes' Theorem. I get the concept. But I haven't internalized it enough to make use of it in real world situations. I'm trying to decide whether it really makes sense for me to put in the effort to understanding it when I could be putting that effort into other things. I'm curious what examples people here have of making use of it in a concrete way in real life? (In particular, real life examples that weren't contingent on you being a scientist)
The law of the conservation of expected evidence is a direct consequence of Bayes' Theorem, and if you internalize Eliezer's post of the subject then IMHO you get much of the expected value of internalizing Bayes' Theorem.