Condition-based maintenance and predictive maintenance have gradually been recognized as ideal practices for mechanical equipment maintenance. However, the development process requires cross-field technology integration, which formed an obstacle that hinders its extensive development. With regard to the indispensable technologies such as monitoring, predictive and diagnostic analysis, this article takes the Prognosis Monitoring System developed by ITRI as an example to explain its technical principles, characteristics, application cases, etc., hoping to guide readers to better understand related technologies and its research and development process, thereby improving the efficiency of machinery prognosis and health management, and approaching near-zero downtime production.