A data analysis technique for a long data record in a memory uses a reference, either user-provided or calculated from the data in the long data record, as a representative event. Each event in the long data record is compared with the reference to determine whether there are significant deviations from the reference. Those events having significant deviations are identified as events of particular interest for a user. The reference may be either a waveform shape or a mean time interval between events. A tolerance value may be added to the waveform reference and varied for dynamic limit testing. Events that are outside the waveform reference as modified by the tolerance value are identified as outliers and may be reduced to iconic images for display simultaneously with the long data record and a selected one of the outliers.