Survival analysis is a huge topic in statistics. For a comprehensive survey, see this article from ACM. In this post, we will cover one popular model known as Accelerated Failure Time (AFT). The AFT model makes the following key assumptions:
Accelerated Failure Time assumption
1. A unit increase in each input feature multiples the log survival time by a constant factor.
2. The effects of features on the log survival time are additive.
3. Noise in the training data is random and does not depend on any particular data point.