Systems and methods for estimating a remaining useful life of an item

A method, comprising:

• determining a plurality of probability values associated with a future time period comprising a plurality of time segments, each probability value corresponding to a different time segment of the plurality of time segments and quantifying a probability that a failure event of an item will occur by a time in the different time segment;
• determining a particular time segment of the plurality of time segments in which the failure event is most likely to occur based on the plurality of probability values, by:
• calculating a first derivative of the plurality of probability values with respect to time:
• calculating a second derivative of the plurality of probability values with respect to time;
• and
• identifying a knee that corresponds to a particular time segment in which the failure event is most likely to occur from the first derivative and the second derivative;
• and
• effecting presentation of a visual representation having a plurality of distinct visual sectors, wherein each distinct visual sector of the plurality of distinct visual sectors represents a different one of the plurality of time segments and a visual intensity of a visual characteristic of the distinct visual sector is based on the plurality of probability values.

An apparatus, comprising:

• at least one non-transitory computer-readable medium that stores computer-executable instructions;
• at least one microprocessor operably associated with the at least one non-transitory computer-readable medium wherein the computer-executable instructions instruct the at least one microprocessor to:
• receive sensor data from sensors operably associated with an item;
• determine a plurality of probability values associated with a future time period, wherein the future time period defines a plurality of time segments and each of the plurality of probability values quantifies a probability that a failure event of the item will occur by a time in a different one of the plurality of time segments;
• determine a particular time segment of the plurality of time segments in which the failure event has a maximum probability of occurrence based on the plurality of probability values by:
• calculating a first derivative of the plurality of probability values with respect to time;
• calculating a second derivative of the plurality of probability values with respect to time;
• and
• identifying a knee that corresponds to the particular time segment in which the failure event is most likely to occur from the first derivative and the second derivative;
• and
• effect presentation of a visual representation representing at least a portion of the future time period, wherein the visual representation indicates that the failure event of the item has a greatest likelihood to occur during the particular time segment.