1. A system for performing real-time failure mode analysis of a monitored system, comprising: a data acquisition component communicatively connected to a sensor configured to acquire real-time data output from the monitored system; an analytics server communicatively connected to the data acquisition component, comprising, a virtual system modeling engine configured to generate predicted data output for the monitored system utilizing a virtual system model of the monitored system, an analytics engine configured to monitor the real-time data output and the predicted data output of the monitored system, the analytics engine further configured to initiate a calibration and synchronization operation to update the virtual system model when a difference between the real-time data output and the predicted data output exceeds a threshold, and a machine learning engine configured to store and process patterns observed from the real-time data output and the predicted data output, the machine learning engine further configured to forecast an aspect of the monitored system subjected to a simulated contingency event; and a client terminal communicatively connected to the analytics server, the client terminal configured to allow for the selection of the simulated contingency event and display the forecasted aspect.