A system for providing real-time modeling of an electrical system under management is disclosed. The system includes a data acquisition component, a virtual system modeling engine, and an analytics engine. The data acquisition component is communicatively connected to a sensor configured to provide real-time measurements of data output from an element of the system. The virtual system modeling engine is configured to generate a predicted data output for the element. The analytics engine is communicatively connected to the data acquisition system and the virtual system modeling engine and is configured to monitor and analyze a difference between the real-time data output and the predicted data output.