A method is provided for a virtual sensor system. The method may include obtaining data records associated with a plurality of input parameters and at least one output parameter and adjusting values of the input parameters based on autocorrelation of respective input parameters. The method may also include reconfiguring the input parameters based on cross-correlation of respective input parameters relative to the output parameter and establishing a first virtual sensor process model indicative of interrelationships between the adjusted and reconfigured input parameters and the output parameter.