Abstract
The paper introduces Bayesian Mindsponge Framework (BMF) analytics, a new analytical tool for investigating socio, psychological, and behavioral phenomena. The strengths of this method derive from the combination of the mindsponge mechanism's conceptual formulation power and Bayesian analysis's inferential advantages. The BMF-based research procedure includes six main steps, in which the mindsponge-based conceptualization and model construction is the key step that makes the method unique. Therefore, we elaborate on the fundamental components and functions of the mindsponge mechanism and summarize them into five memorable principles so that other researchers can capitalize directly. An exemplary analysis was performed using a dataset of 3071 Vietnamese entrepreneurs' decisiveness and perceptions of the likelihood of success/continuity to validate the method.•The paper provides five strong points of BMF analytics, originating from the good match between the mindsponge mechanism and Bayesian inference.•The paper also provides a step-by-step procedure for conducting BMF-based research.•The mindsponge mechanism's basic components and functions are elaborated and summarized into five core principles that can be applied directly for research conceptualization and model construction.