A cutting tool mounting assembly adapted for attachment to a surface of a rotatable driving member of a cutting tool machine. The cutting tool mounting assembly includes: a cutting tool; a base having a bottom portion for attachment to the surface of the rotatable driving member and a front portion that defines a receptacle having an inner wall; a bushing configured for receipt in the receptacle of the base and having an aperture for receiving the cutting tool; and a sensor element for acquiring and transmitting operation data.