In one embodiment, a multi-purpose sensor may couple to a machine operating in an industrial environment and include numerous sensors disposed within the multi-purpose sensor to acquire sets of data associated with the machine or an environment surrounding the machine. A first portion of the sets of data may include historical sensor measurements over time for each of the sensors, and a second portion of the sets of data may include sensor measurements subsequent to when the first portion is acquired for each of the sensors. A processor of the multi-purpose sensor may determine a baseline collective signature based on the first portion, determine a subsequent collective signature based on the second portion, determine whether the collective signatures vary, and generate signals when a variance exists. The signals may cause a computing device, a cloud-based computing system, and/or a control/monitoring device to perform various actions.