1. A system, comprising: a computer processor; a storage device communicatively coupled to the computer processor, the storage device storing historical data collected for a railroad network; and an application executable by the computer processor, the application configured to implement a method, the method comprising: logically dividing the railroad network according to spatial and temporal dimensions with respect to the historical data collected for the railroad network, the spatial dimensions including line segments of a specified length and the temporal dimensions including inspection run data for inspections performed for each of the line segments over a specified period of time; creating a track deterioration model from the historical data and corresponding spatial and temporal dimensions, current track conditions, and traffic data; identifying geo-defects occurring at each inspection run from the track deterioration model, the geo-defects identified from data sets of the historical data according to the spatial and temporal dimensions; calculating a track deterioration condition from the track deterioration model, the track deterioration condition calculated by analyzing quantified changes in the geo-defects measured at each inspection run; calculating a derailment risk based on track conditions determined from the inspection run data and from the track deterioration condition; and determining a repair decision for each of the geo-defects based on the derailment risk and historically determined costs associated with previous comparable repairs.