A system for analyzing one or more operations associated with a component of a machine is disclosed. The system includes a data warehouse for storing data associated with the machine. The system includes a data extraction module, which extracts the data from the data warehouse and receives a customer input. The data extraction module generates an input parameter based on the data from the data warehouse and the customer input. The system includes a failure injection module for storing information of the one or more failures associated with the component of the machine. The system also includes a machine model, which is in communication with the data extraction module and the failure injection module. The machine model derives an output parameter associated with the one or more operations of the component of the machine, based on the input parameter and the information of the one or more failures.