A system for data collection and analysis is provided comprising a first network having at least one system element, at least one collection device communicably coupled to the at least one system element and configured to receive data communications from the least one system element and transmit the data. The system including a data management system communicably coupled to the collection device and configured to receive and store the transmitted data. The system further including a data analysis network communicably coupled to the first network and configured to retrieve data from the first network, the data analysis network including a management server having logic configured to at least one of analyze the retrieved data and determine remaining useful life (RUL) of at least one system element, identify a failure mode associated with the at least one system element, and determine a maintenance action sufficient to remedy a system failure corresponding to the identified failure mode.