Statistical Methods Used for the Analysis of Data

2053 Words8 Pages
Introduction:
I will discuss in this paper one of statistical method used for analyzing data using time to conversion as a dependent variable, it's called survival analysis, also it has many names such as event duration analysis, transition event analysis, time to event analysis, failure analysis and other,
Definition of survival analysis:
There are many definitions for survival analysis I will mention some of them that can clarifying the meaning, in general it’s a set of statics methods dealing with time as a variable until the event occurred. (Verlag, 1996)
Other definition, survival analysis used to analyze data in specific time which event is the interest and the response of event refer to be a failure time or event in time or survival time. (BIOST, Feb 2005)
Or we can summarize the useful for survival analysis by below bullets:
• Using time factor to conversion as dependent variable.
• Probability using each interaction as an observation.
• No needs for flatten the data.

Important of survival analysis:
• Clinical trials (E.G. Cancer treatment).
• Life insurance and superannuation.
• Planning (E.G. Aged care).
• Component manufacture.

Examples of survival analysis:
There are a lot of examples of many fields such (Economics, Finance, health, technology ...est.), so let me provide some of examples as below,
In finance for instant (loan performance), borrowers taking a loan for a specific period of time are they paid their installment or stop or escape for any reason
Get Access