Survival Analysis

Survival analysis or duration modelling is a widely applied statistical method for estimating the expected time until a specific event of interest occurs. In recent decades, this method has garnered significant attention within the field of social sciences, particularly in economic-based disciplines, in addition to its widespread application in clinical trials and engineering research. The use of survival analysis techniques provides the estimation of failure (or success) probabilities over a given period of time, thereby enabling a comprehensive representation of time-to-event data. Furthermore, it facilitates the examination of the interplay between various factors, resulting in identifying the pivotal determinants of events. This knowledge can then inform decision-making, attain forecasting objectives and promote effective policies and strategies