A system for identifying root cause of anomalies in execution of an application comprising a plurality of operations is provided. The system comprising a preprocessing module configured to receive tracing data comprising a plurality of tracing spans each documenting, for a corresponding operation of the application, a plurality of properties and corresponding values, a signal splitting module configured to group the plurality of tracing spans in a plurality of groups such that each of the plurality of groups comprises operations with identical properties and corresponding values, an anomaly detection module configured to determine anomalous operations for each of the plurality of tracing data spans, a scoring module configured to calculate a plurality of anomaly scores each indicating a level of anomaly within each of the plurality of groups and a root cause identification module configured to analyze the anomaly scores and identify root cause of the detected anomalies according to the analysis.