A method and system for utilizing historical data in an asset management environment are disclosed. According to one embodiment, a method generates an asset information report from a database, wherein the asset information report comprises at least a portion of real-time information about the asset when the real-time information about the asset is available. In addition, the asset information report is augmented by extrapolating at least a portion of historical asset information stored at the database when at least a portion of the real-time information is not available.