Services offered by ic analytics
Specializing in:
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.