The disclosed embodiments relate to a system that reduces bandwidth requirements for transmitting telemetry data from sensors in a computer system. During operation, the system obtains a cross-imputability value for each sensor in a set of sensors that are monitoring the computer system, wherein a cross-imputability value for a sensor indicates how well a sensor value obtained from the sensor can be predicted based on sensor values obtained from other sensors in the set. Next, the system clusters sensors in the set of sensors into two or more groups based on the determined cross-imputability values. Then, while transmitting sensor values from the set of sensors, for a group of sensors having cross-imputability values exceeding a threshold, the system selectively transmits sensor values from some but not all of the sensors in the group to reduce a number of sensor values transmitted.
Please help me write a proper abstract based on the patent claims. CLAIM: 1. A method for reducing bandwidth requirements for transmitting telemetry data from sensors in a computer system, comprising: obtaining a cross-imputability value for each sensor in a set of sensors that are monitoring the computer system, wherein a cross-imputability value for a sensor indicates how well a sensor value obtained from the sensor can be predicted based on sensor values obtained from other sensors in the set; clustering sensors in the set of sensors into two or more groups based on the determined cross-imputability values; and while transmitting sensor values from the set of sensors, for a group of sensors having cross-imputability values exceeding a threshold, selectively transmitting sensor values from some but not all of the sensors in the group to reduce a number of sensor values transmitted. 2. The method of claim 1, wherein selectively transmitting sensor values from some but not all of the sensors in the group includes performing a staggered round robin operation that periodically transmits sensor values from the set of sensors, and during successive transmissions of the sensor values, cycles through sensors in the group to select sensors to not transmit sensor values from. 3. The method of claim 1, wherein obtaining the cross-imputability value for each sensor in the set of sensors includes: capturing a set of sensor values obtained from the set of sensors; dividing the captured set of sensor values into a training data set and a testing data set; during a training phase, using the training data set to train a nonparametric model that predicts a sensor value in the set of sensor values based on other sensor values in the set of sensor values; during a testing phase, applying the nonparametric model to the testing data set to predict each sensor value in the set of sensor values, and comparing each predicted sensor value with an actual sensor value obtained from the testing data set to determine a cross-imputability value for a corresponding sensor in the set of sensors. 4. The method of claim 3, wherein the nonparametric model comprises a Multivariate State Estimation Technique (MSET) model. 5. The method of claim 3, wherein comparing each predicted sensor value with an actual sensor value includes computing residuals over the set of testing data, wherein each residual comprises a difference between a predicted sensor value and an actual sensor value; and wherein determining the cross-imputability value for the corresponding sensor in the set of sensors comprises, performing a root mean square (RMS) computation over the residuals associated with the corresponding sensor to obtain an RMS value, and applying an inverse function to the RMS value to obtain the cross-imputability value for the corresponding sensor, wherein the inverse function associates lower RMS values with higher cross-imputability values and higher RMS values with lower cross-imputability values. 6. The method of claim 1, wherein if a prognostic system that uses the sensor data is meeting false alarm probability (FAP) requirements and missed alarm probability (MAP) requirements, the method further comprises selectively transmitting sensor values for an intermediate group of sensors having cross-imputability values, which are higher than for sensors in a lowest group of sensors and lower than for sensors in a highest group of sensors. 7. The method of claim 1, wherein the set of sensors includes: physical sensors that monitor physical performance parameters, such as temperature, voltage, current, vibration, and acoustics; and software monitoring mechanisms that monitor software-related telemetry parameters, such as processor load, memory and cache usage, system throughput, queue lengths, I/O traffic, and quality of service (QOS). 8. A non-transitory computer-readable storage medium storing instructions that when executed by a computer cause the computer to perform a method for reducing bandwidth requirements for transmitting telemetry data from sensors in a computer system, the method comprising: obtaining a cross-imputability value for each sensor in a set of sensors that are monitoring the computer system, wherein a cross-imputability value for a sensor indicates how well a sensor value obtained from the sensor can be predicted based on sensor values obtained from other sensors in the set; clustering sensors in the set of sensors into two or more groups based on the determined cross-imputability values; and while transmitting sensor values from the set of sensors, for a group of sensors having cross-imputability values exceeding a threshold, selectively transmitting sensor values from some but not all of the sensors in the group to reduce a number of sensor values transmitted. 9. The non-transitory computer-readable storage medium of claim 8, wherein selectively transmitting sensor values from some but not all of the sensors in the group includes performing a staggered round robin operation that periodically transmits sensor values from the set of sensors, and during successive transmissions of the sensor values, cycles through sensors in the group to select sensors to not transmit sensor values from. 10. The non-transitory computer-readable storage medium of claim 8, wherein obtaining the cross-imputability value for each sensor in the set of sensors includes: capturing a set of sensor values obtained from the set of sensors; dividing the captured set of sensor values into a training data set and a testing data set; during a training phase, using the training data set to train a nonparametric model that predicts a sensor value in the set of sensor values based on other sensor values in the set of sensor values; during a testing phase, applying the nonparametric model to the testing data set to predict each sensor value in the set of sensor values, and comparing each predicted sensor value with an actual sensor value obtained from the testing data set to determine a cross-imputability value for a corresponding sensor in the set of sensors. 11. The non-transitory computer-readable storage medium of claim 10, wherein the nonparametric model comprises a Multivariate State Estimation Technique (MSET) model. 12. The non-transitory computer-readable storage medium of claim 10, wherein comparing each predicted sensor value with an actual sensor value includes computing residuals over the set of testing data, wherein each residual comprises a difference between a predicted sensor value and an actual sensor value; and wherein determining the cross-imputability value for the corresponding sensor in the set of sensors comprises, performing a root mean square (RMS) computation over the residuals associated with the corresponding sensor to obtain an RMS value, and applying an inverse function to the RMS value to obtain the cross-imputability value for the corresponding sensor, wherein the inverse function associates lower RMS values with higher cross-imputability values and higher RMS values with lower cross-imputability values. 13. The non-transitory computer-readable storage medium of claim 8, wherein if a prognostic system that uses the sensor data is meeting false alarm probability (FAP) requirements and missed alarm probability (MAP) requirements, the method further comprises selectively transmitting sensor values for an intermediate group of sensors having cross-imputability values, which are higher than for sensors in a lowest group of sensors and lower than for sensors in a highest group of sensors. 14. The non-transitory computer-readable storage medium of claim 8, wherein the set of sensors includes: physical sensors that monitor physical performance parameters, such as temperature, voltage, current, vibration, and acoustics; and software monitoring mechanisms that monitor software-related telemetry parameters, such as processor load, memory and cache usage, system throughput, queue lengths, I/O traffic, and quality of service (QOS). 15. A system that reduces bandwidth requirements for transmitting telemetry data from sensors in a computer system, comprising: a transmission mechanism that transmits sensor values, wherein during operation, the transmission mechanism: obtains a cross-imputability value for each sensor in a set of sensors that are monitoring the computer system, wherein a cross-imputability value for a sensor indicates how well a sensor value obtained from the sensor can be predicted based on sensor values obtained from other sensors in the set; clusters sensors in the set of sensors into two or more groups based on the determined cross-imputability values; and while transmitting sensor values from the set of sensors, for a group of sensors having cross-imputability values exceeding a threshold, selectively transmits sensor values from some but not all of the sensors in the group to reduce a number of sensor values transmitted. 16. The system of claim 15, wherein while selectively transmitting sensor values from some but not all of the sensors in the group, the transmission mechanism performs a staggered round robin operation that periodically transmits sensor values from the set of sensors, and during successive transmissions of the sensor values, cycles through sensors in the group to select sensors to not transmit sensor values from. 17. The system of claim 15, wherein while obtaining the cross-imputability value for each sensor in the set of sensors, the transmission mechanism: captures a set of sensor values obtained from the set of sensors; divides the captured set of sensor values into a training data set and a testing data set; during a training phase, uses the training data set to train a nonparametric model that predicts a sensor value in the set of sensor values based on other sensor values in the set of sensor values; during a testing phase, applies the nonparametric model to the testing data set to predict each sensor value in the set of sensor values, and compares each predicted sensor value with an actual sensor value obtained from the testing data set to determine a cross-imputability value for a corresponding sensor in the set of sensors. 18. The system of claim 15, wherein the nonparametric model comprises a Multivariate State Estimation Technique (MSET) model. 19. The system of claim 15, wherein while comparing each predicted sensor value with an actual sensor value, the transmission mechanism computes residuals over the set of testing data, wherein each residual comprises a difference between a predicted sensor value and an actual sensor value; and wherein while determining the cross-imputability value for the corresponding sensor in the set of sensors, the transmission mechanism, performs a root mean square (RMS) computation over the residuals associated with the corresponding sensor to obtain an RMS value, and applies an inverse function to the RMS value to obtain the cross-imputability value for the corresponding sensor, wherein the inverse function associates lower RMS values with higher cross-imputability values and higher RMS values with lower cross-imputability values. 20. The system of claim 15, wherein if a prognostic system that uses the sensor data is meeting false alarm probability (FAP) requirements and missed alarm probability (MAP) requirements, the transmission mechanism selectively transmits sensor values for an intermediate group of sensors having cross-imputability values, which are higher than for sensors in a lowest group of sensors and lower than for sensors in a highest group of sensors.