Explain how often to UPDATE STATISTICS

is there any guideline for running ANALYZE/UPDATE STATISTICS (for cbo) at a regular cadence to ensure statistics are up to date? Would one just use a cron job and the API?

It depends on the rate of data change (mutations). For something that's not changing much, there is no need to rerun ANALYZE/UPDATE STATISTICS; for something that's constantly changing then it probably needs to be updated more frequently. A cron job is probably a good way to handle this. We are looking into enhancements to make this process more automatic such that users don't need to be concerned with this.

Auto collection of statistics for CBO when index is created/built