of event sequences (parallel coordinate plots, ...) Frequent subsequences Discriminant subsequences Dissimilarity-based analysis of event sequences Advances: the third wave of sequence analysis Some recent advances can be conceived as the third wave of SA. This wave is largely characterized by the effort of bringing together the stochastic and the algorithmic modeling culture by jointly applying SA with more established methods such as analysis of variance, event history, network analysis, or causal analysis and statistical modeling in general. Some examples are given below; see also "Other methods of analysis". Effect of past trajectories on the hazard of an event: Sequence History Analysis, SHA Effect of time varying covariates on trajectories: Competing Trajectories Analysis (CTA), and Sequence Analysis Multistate Model (SAMM) Validation of cluster typologies Discrepancy analysis to bring time back to qualitative comparative analysis – QCA Open issues and limitations Although SA witnesses a steady inflow of methodological contributions that address the issues raised two decades ago, some pressing open issues remain. Among the most challenging, we can mention: Sequences of different lengths, truncated sequences, and missing values. Validation of cluster results Sequence length vs importance of recency: for example, when analyzing biographic sequences 40 year-long from age 1 to 40, one can only consider individuals born 40 years earlier and therefore the behavior of younger birth cohorts is disregarded. Up-to-date information on advances, methodological discussions, and recent relevant publications can be found on the Sequence Analysis Association webpage. Fields of application These techniques have proved valuable in a variety of contexts. In life-course research, for example, research has shown that retirement plans are affected not just by the last year or two of one's life, but instead how one's work and family careers unfolded over a period of several decades. People who followed an "orderly" career path (characterized by consistent employment and gradual ladder-climbing within a single organization) retired earlier than others, including people who had intermittent careers, those who entered the labor force late, as well as those who enjoyed regular employment but who made numerous lateral moves across organizations throughout their careers. In the field of economic sociology, research has shown that firm performance depends not just on a firm's current or recent social network connectedness, but also the durability or stability of their connections to other firms. Firms that have more "durably cohesive" ownership network structures attract more foreign investment than less stable or poorly connected