[Project] Failure prediction for lifetime data • /r/MachineLearning

If you have a piece of equipment it and operate it, it will eventually fail. So you note down the failure time (operating hours) and replace it.After some time (especially if you have the identical equipment several times) you collect a collection of failure times. The usual approach is to use Minitab or R or whatever software you fancy and fit a model to the data (Exponential, Weibull, Gamma, etc.). So ideally you find a model which fits rather nice and then for the future you can describe the behaviour of your equipment with just one or two parameters. This is often displayed in form of a Cumulative Failure Probability plot.