Systems and methods for identification of outlier semiconductor devices using data-driven statistical characterization are described herein. At least some preferred embodiments include a method that includes identifying a plurality of sample semiconductor chips that fail a production test as a result of subjecting the plurality of sample semiconductor chips to a stress inducing process, identifying at least one correlation between variations in a first sample parameter and variations in a second sample parameter (the sample parameters associated with the plurality of sample semiconductor chips) identifying as a statistical outlier chip any of a plurality of production semiconductor chips that pass the production test and that further do not conform to a parameter constraint generated based upon the at least one correlation identified and upon data associated with at least some of the plurality of production semiconductor chips, and segregating the statistical outlier chip from the plurality of production semiconductor chip.