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Survival Analysis: How to Apply It in Your Field

How can you apply survival analysis in your field?

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Survival analysis is a branch of statistics that deals with the time until an event of interest occurs, such as death, failure, or recovery. It is widely used in various fields, such as medicine, engineering, biology, and social sciences. In this article, you will learn how you can apply survival analysis in your field and what benefits it can offer.

Key takeaways from this article
  • Model churn with Cox-PH:
    The Cox Proportional Hazards model can help you understand customer behavior. For example, it helps predict when customers might stop using your service, which can be crucial for improving retention strategies.
  • Employ cure models:
    In industries like banking, cure models can identify clients who are unlikely to default on loans. This insight allows you to manage risks better and tailor financial services to meet customer needs more effectively.
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