1. A method for estimating battery degradation in a vehicle battery pack, comprising the steps of: (a) receiving one or more battery conditions; (b) performing a time-based algorithm, wherein the time-based algorithm provides a time-based output; (c) performing an event-based algorithm, wherein the event-based algorithm extracts certain data from the battery conditions, uses the extracted data as an event-based input, and provides an event-based output in response to the event-based input; and (d) using the time-based output from the time-based algorithm and the event-based output from the event-based algorithm to estimate battery degradation in the vehicle battery pack.