Absolutely. It is an accurate way to date specific geologic events. This is an enormous branch of geochemistry called Geochronology. There are many radiometric clocks and when applied to appropriate materials, the dating can be very accurate.

How reliable are dating methods?

These techniques are accurate only for material ranging from a few thousand to 500,000 years old — some researchers argue the accuracy diminishes significantly after 100,000 years.

Who invented dating method?

Modern dating methods. Radiometric dating has been carried out since 1905 when it was invented by Ernest Rutherford as a method by which one might determine the age of the Earth. In the century since then the techniques have been greatly improved and expanded.