A monitoring system for a cold storage device such as a vapor compression refrigerator or freezer. The monitoring system learns operating characteristics of the cold storage device and issues alarm notifications when abnormal behavior is detected. Such a system can be used as an “early warning system” to flag when a cold storage device is not operating properly. Such a system could be particularly valuable in applications that make mission-critical use of cold storage devices, e.g., biomedical or pharmaceutical research labs, blood or tissue banks, grocery stores, restaurants, and the like.