A method for determining a potential cause of pre-identified conditions occurring in components of a plurality of rotary machines is provided. The method includes associating each rotary machine with a respective machine data set and identifying, in a component database, a first set of the components each having a first pre-identified condition. The method also includes identifying at least one common parameter from the machine data sets of the rotary machines associated with the first set of components, and identifying, in the component database, a second set of the components for which the machine data set of the associated rotary machine includes the at least one common parameter. The method further includes reporting the at least one common parameter as the potential cause of the first pre-identified condition, and as the potential cause of at least a second of the pre-identified conditions associated with the second set of components.