A data analytics service for performing data analytics functions within a distributed process control environment is provided. The service may provide a user interface for creating a first diagram, representing a data model. The first diagram may be configured, compiled, and evaluated using off-line (i.e., historical) data from a distributed process control system, which may include data stored in distributed data engines (DDEs). Following evaluation, the first diagram may be automatically converted into a second diagram that is bound to on-line (i.e., real-time) data sources within the process control environment, which may then be compiled and executed to generate performance or predictive analytics data for the process. The diagrams may comprise a plurality of configurable function blocks or modules, connected logically via wires conveying outputs or inputs of the blocks or modules.