Reliability Forecast Platform Overview
The Reliability Forecast platform helps you predict the number of future failures. JMP estimates the parameters for a life distribution using production dates, failure dates, and production volume. Using the interactive graphs, you can adjust factors such as future production volumes and contract length to estimate future failures. Repair costs can be incorporated into the analysis to forecast the total cost of repairs across all failed units.
Example Using the Reliability Forecast Platform
You have data on seven months of production and returns. You need to use this information to forecast the total number of units that will be returned for repair through February 2011.The product has a 12-month contract. ...