Analyze Date Warranty For Free

A common and poor technique to gather field data is to count the number of returns by week or month. This can provide a graph showing the number of returns over time. It hides information you need to understand your field failures.

5 Ways to Decrease Your Business's Warranty CostsAutomate Claims Processing. Manual processes are time consuming and manpower intensive.Eliminate Fraudulent Claims Using Predictive Technologies.Improve Product Quality.Improve Processes.Go Fully Online.Nov 10, 2015

Warranty data analysis relies on the estimation of a failure distribution based on data including the age and number of returns and the age and number of surviving units in the field.

A warranty analysis is the analysis of time-to-event/failure data. In our example, the individual part is followed from the car sold time to its failure. As in typical model building, we split the data into train and test datasets.

A warranty analysis uses information about past warranty claims to predict the number and cost of warranty claims in the future. By fitting a distribution to your warranty data, you can estimate the number of expected failures in the next month, the next year, or other period of time.

5 Ways to Decrease Your Business's Warranty CostsAutomate Claims Processing. Manual processes are time consuming and manpower intensive.Eliminate Fraudulent Claims Using Predictive Technologies.Improve Product Quality.Improve Processes.Go Fully Online.Nov 10, 2015

Warranty data are comprised of claims data and supplementary data. Warranty claims data are the data collected during the servicing of items under warranty and supplementary data are additional data (such production and marketing related, items with no claims, etc.) that are needed for effective warranty management.