Survival Analysis for Business Applications
Abstract
Survival Analysis is a branch of statistics for analyzing the expected duration of time until one event occurs, such as death in biological organisms and failure in mechanical systems. However, Survival Analysis techniques are often neglected in business analytics in favor of linear regression models or other nonparametric machine learning solutions. In this talk we go over the fundamentals of Survival Analysis and we discuss why it is an effective tool for studying a variety of business events such as: customer churn, product adoption, employee hiring and resignation, engineering ticket events, loan repayment, inventory issues.
Bio
Fabrizio Lecci is a statistician and a Data Science executive. After receiving a PhD in Statistics from Carnegie Mellon University he worked in tech and fintech companies (Uber, New York Life, Better) in various leadership roles. He has published in peer-reviewed journals and he has taught Statistics & Probability for the MBA program at the Fuqua School of Business. Fabrizio recently co-founded a boutique consulting firm, Data Captains, which partners with organizations that are committed to using data to improve their business and products for their customers. The common goal of his work is to advance the fields of applied Data Science and Machine Learning and help others leverage data tools in a rigorous yet pragmatic way.
