Current monitoring systems often provide the operating condition of a specific component and do not consider the impact of a specific failure upon an entire system or a business. Nor do the current systems provide an avenue for the business to predict the loss, as well as its impact, and make an educated decision of mitigating the loss based upon economic, environmental, and health and safety considerations. Methods and systems are provided for predicting loss events, impacts of loss events, and providing potential corrective measures to reduce or eliminate the occurrence or impact of the loss events. One aspect relates to the use of system-wide information to predict variables that are directly linked to business impact, such as production loss. Extraneous and transactional data are also utilized according to other aspects of the invention.