A method comprising: receiving, by a computing device processor, protection data of a transformer from at least one protection relay device; receiving, by the computing device processor, health monitoring data of the transformer from at least one monitoring and diagnostics (M&D) device; time-stamping, by the computing device processor, the received protection and health monitoring data upon receipt of the protection data and the health monitoring data; analyzing, by the computing device processor, the received protection data and the received health monitoring data using a common time reference; determining, by the computing device processor, the occurrence of an event associated with the transformer based at least in part on analysis of the received protection data and the received health monitoring data; recalling, by the computing device processor, pre-data comprising available historic data or a sample of data that was time-stamped immediately prior to the time-stamp of the determined occurred event and post-data comprising a sample of data that was time-stamped immediately or multiple data samples collected after the time-stamp of the determined occurred event; generating, by the computing device processor, an instruction to modify operation of the transformer in response to determining the occurrence of an event associated with the transformer; analyzing by the computing device processor, the pre-data and post-data to determine a cause of the event that occurred with respect to the transformer or to determine an amount of stress experienced by the transformer due to the occurrence of the event; and characterised by comparing, by the computing device processor, the time-stamp of the received protection data to the time-stamp of the received health monitoring data; determining, by the computing device processor, an estimated current time lag between receiving the protection data and receiving the health monitoring data based on comparing the time-stamp of the received protection data to the time-stamp of the received health monitoring data; and assigning, by the computing device processor, an offset of time equal to the estimated current time lag between receiving the protection data and receiving the health monitoring data to the time-stamp of at least one of the received protection data and the health monitoring data so that protection data and health monitoring data sampled at the same point in time are assigned a common time-stamp; and time synchronizing, by the computing device processor, the at least one protection relay device and the at least one M&D device to a common global positioning system time source. receiving, by a computing device processor, protection data of a transformer from at least one protection relay device; receiving, by the computing device processor, health monitoring data of the transformer from at least one monitoring and diagnostics (M&D) device; time-stamping, by the computing device processor, the received protection and health monitoring data upon receipt of the protection data and the health monitoring data; analyzing, by the computing device processor, the received protection data and the received health monitoring data using a common time reference; determining, by the computing device processor, the occurrence of an event associated with the transformer based at least in part on analysis of the received protection data and the received health monitoring data; recalling, by the computing device processor, pre-data comprising available historic data or a sample of data that was time-stamped immediately prior to the time-stamp of the determined occurred event and post-data comprising a sample of data that was time-stamped immediately or multiple data samples collected after the time-stamp of the determined occurred event; generating, by the computing device processor, an instruction to modify operation of the transformer in response to determining the occurrence of an event associated with the transformer; analyzing by the computing device processor, the pre-data and post-data to determine a cause of the event that occurred with respect to the transformer or to determine an amount of stress experienced by the transformer due to the occurrence of the event; and characterised by generating, by the computing device processor, an instruction to modify operation of the transformer in response to determining the occurrence of an event associated with the transformer; analyzing by the computing device processor, the pre-data and post-data to determine a cause of the event that occurred with respect to the transformer or to determine an amount of stress experienced by the transformer due to the occurrence of the event; and characterised by comparing, by the computing device processor, the time-stamp of the received protection data to the time-stamp of the received health monitoring data; determining, by the computing device processor, an estimated current time lag between receiving the protection data and receiving the health monitoring data based on comparing the time-stamp of the received protection data to the time-stamp of the received health monitoring data; and assigning, by the computing device processor, an offset of time equal to the estimated current time lag between receiving the protection data and receiving the health monitoring data to the time-stamp of at least one of the received protection data and the health monitoring data so that protection data and health monitoring data sampled at the same point in time are assigned a common time-stamp; and