The primary advantage of the Weibull analysis is the ability to provide reasonably accurate failure analysis and failure forecasts with extremely small samples. Another advantage is that it provides a simple and useful graphical plot of the failure data.
1) WE produces better models with smaller amounts of input data.
2) WE provides quantitative results with numbers instead of results based only on opinions.
3) WE plots illustrate the variability graphically making such results easier to interpret.
4) WE with Monte Carlo simulation yields the best goodness-of-fit indicator for graphical solution.
5) WE makes decisions easier for reliability-centered-maintenance (RCM) and condition-based-monitoring (CBM)
6) WE extensions like Abernethy Risk and Barringer Process Reliability help with decision-making.
7) WE for test planning gives the lowest-cost and/or the shortest-schedule plan for design substantiation.
8) WE encompasses accelerated testing and step-stress testing to minimize inception-to-market time
9) WE can add upper and lower bounds on nominal results using confidence estimates.
10) WE enables comparison between different options for significant difference, like between new and old designs.
11) WE includes other models and other methods like reliability growth trending for program management.