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Most companies don’t measure mean time between failures (MTBF), even though it’s the most basic measurement that quantifies reliability. MTBF is the average time an asset functions before it fails. So, why don’t they measure MTBF? Let’s define reliability first before we go any further.
Reliability: The ability of an item to perform a required function under stated conditions for a stated period of time
So why don’t we measure Mean Time Between Failure. This articles discusses this issue.