Interpretation of Bayes Factor


I have a question regarding the interpretation of BF01.

Let’s say I would like to examine whether there is evidence for or against the null hypothesis.

I found in hypothesis testing that the BF01 of variable X vs variable Y is 0.72. This means that the data favors just a little the one hypothesis (H1) than the other, but this evidence is weak.

How can we interpret this finding? Are the two variables similar (as the differences are small)?

Would it be ok to run further directional hypotheses to see whether variable X is higher than variable Y?

Thank you.

For general stats questions this might be a better place to ask or at least a faster response.

You can code up a Bayes Factor model in Stan (Finding the Bayes factor using Stan and there are other topics on Bayes Factors here as well.