current monitoring systems often provide the operating condition of a specific component and do not consider the impact of a specific failure upon an entire system or a business . nor do the current systems provide an avenue for the business to predict the loss , as well as its impact , and make an educated decision of mitigating the loss based upon economic , environmental , and health and safety considerations . methods and systems are provided for predicting loss events , impacts of loss events , and providing potential corrective measures to reduce or eliminate the occurrence or impact of the loss events . one aspect relates to the use of system - wide information to predict variables that are directly linked to business impact , such as production loss . extraneous and transactional data are also utilized according to other aspects of the invention .