A method for monitoring an electric submersible pump. The method includes acquiring data indicative of surface measurements obtained while the pump is operating in a downhole environment, acquiring data indicative of downhole measurements obtained while the pump is operating in the downhole environment, storing the downhole data in the downhole environment, periodically transmitting the downhole data from the downhole environment to a remote computing device, and establishing a baseline signature profile based on a correlation of the surface data with the downhole data.