1. A method for use at a computer system, the computer system including a processor, the method for selecting performance indicators to monitor for identifying a problem during execution of an application, instances of the application load balanced on a plurality of other devices, the method comprising: for each of a plurality of devices, collecting operational data for the application over different periods when there are varied levels of demand for the application, the operational data including values for a plurality of different performance indicators; the processor identifying a subset of performance indicators that are statistically relevant, the subset of performance indicators identified from among the plurality of different performance indicators, including for each performance indicator in the subset of performance indicators: determining that an aggregated deviation over one period of time for the performance indicator is statistically similar to an aggregated deviation over multiple periods of time for the performance indicator; and setting each of the identified subset of performance indicators as monitored performance indicators.