1. A controller configured to detect indicia of incipient mechanical motor faults having a processor programmed to: receive a first set of real-time operating current data from a motor during operation; define a noise component present in the first set of real-time operating current data; remove the noise component from the first set of real-time operating current data to identify any fault components present in the first set of real-time operating current data; generate a fault index for the first set of real-time operating current data based on any isolated fault components; acquire at least one additional set of real-time operating current data from the motor during operation; redefine the noise component present in each of the at least one additional sets of real-time operating current data; remove the redefined noise component from each of the at least one additional sets of real-time operating current data to identify any fault components present therein; and generate a fault index for each of the at least one additional sets of real-time operating current data based on any isolated fault components.