Disclosed is a method for analyzing retinal image data obtained using spectral-domain optical coherence tomography (SD-OCT). The image data comprise a cross-section of the retina and an en face image of the retina of a subject having AMD (age-related macular degeneration). The image data are processed to obtain an accurate structure showing locations, shape, size, and other data on drusen (deposits under the retina). This structural information is processed to extract quantitative drusen features that are indicative of a risk of progression of AMD from the dry form to the wet form of the disease in a given subject and defined time period, including short time intervals (one year or less). Relevant drusen features used include number, en face area and volume of drusen detected shape of drusen detected density of drusen and reflectivity of drusen. The method uses the extracted drusen features in combination with clinical data and measurement of the changes of the quantitative image features over time to derive a risk score for whether or not the subject will progress from dry AMD to wet AMD in a defined time period.