This study discusses the posterior estimation for the parameters of the Burr type II distribution (BIID). The informative and noninformative priors along with different loss functions have also been assumed for the posterior estimation. The applicability of the proposed distribution has also been discussed. The modeling capability of the proposed model has been compared with seven classes of the lifetime distributions using real data. The generalizations of Weibull, exponential, Rayleigh, gamma, log normal, Pareto, Maxwell, Levy, Laplace, inverse gamma, Gompertz, chi-square, inverse chi-square, half normal, and log-logistic distributions have been considered for the comparison. The comparison has been made based on different goodness-of-fit criteria, such as Akaike information criteria (AIC), Bayesian information criteria (BIC), and Kolmogorov-Smirnov (KS) test. Based on the results from the study, it can be suggested that the BIID can efficiently replace commonly used lifetime distributions and their modifications. The results under this model were comparable with different conventional/modified distributions having up to six parameters.