Time-to-Event Analysis

Time-to-event analysis is a statistical approach used to study the time until a specific event occurs, such as the onset of a disease, equipment failure, or customer retention. It helps researchers understand not just whether an event will happen, but when it is likely to happen. By analyzing data from various subjects, this method can identify factors that influence the timing of the event, providing valuable insights for decision-making in fields like healthcare, engineering, and marketing. Key components include survival functions and hazard rates, which describe the probability of the event occurring over time.