Survival Analysis / Reliability
Survival analysis is used to predict the times at which various percentages of a population will die (from a specified cause). Reliability analysis is used to predict the times at which various percentages of a population of products will fail (from a specified failure mode).
The fields of engineering, health, and insurance are particularly interested in identifying the reliability (or survival probability) at various times. With this information, life insurance premiums can be intelligently set, warranty times and cost estimates can be made, and production of “spare parts” inventory can be estimated. Furthermore, informed decisions regarding equipment repair and replacement can be made.
Without good reliability estimates, consequences may include irate consumers, excessive warranty costs, product recalls, product liability suits, negative press, and losses in market share.
In addition to estimating reliability, we help companies improve the reliability of their products.