1. A method for estimating battery degradation in a vehicle battery pack, comprising the steps of: (a) receiving one or more battery conditions at a battery control module; (b) performing a time-based algorithm, wherein the time-based algorithm uses the battery conditions as time-based input, correlates the time-based input to battery degradation using a first data structure, and provides a time-based output that is representative of the correlated battery degradation; (c) performing an event-based algorithm, wherein the event-based algorithm extracts a portion of the data from the battery conditions, uses the extracted data as an event-based input, correlates the event-based input to battery degradation using a second data structure, and provides an event-based output that is representative of the correlated battery degradation and is separate from the time-based output, both the time-based input and the event-based input include state-of-charge (SOC) data; and (d) using a battery control module to combine the time-based output from the time-based algorithm and the separate event-based output from the event-based algorithm in order to estimate battery degradation in the vehicle battery pack.