1. A method comprising: receiving records of events associated with network entities in a network environment, wherein the network entities are selected from hardware entities, software entities, and combinations of hardware and software entities; analyzing, by one or more processors, the records of the events to identify relationships between events associated with different ones of the network entities, wherein the records of the events identify corresponding network entities impacted by the events; and constructing, by the one or more processors, a Bayesian network based on the analyzing, wherein the constructed Bayesian network is able to make predictions regarding relationships between events associated with the network elements.