System and method for semantics based probabilistic fault diagnosis

A system for generating a statistical model for fault diagnosis comprising at least one hardware processor, adapted to: extract a plurality of structured values, each associated with at least one of a plurality of semantic entities of a semantic model or at least one of a plurality of semantic relationships of the semantic model, from structured historical information organized in an identified structure and related to at least some of a plurality of historical events, the semantic model represents an ontology of an identified diagnosis domain, each of the plurality of semantic entities relates to at least one of a plurality of domain entities existing in the identified diagnosis domain, and each of the plurality of semantic relationships connects two of the plurality of semantic entities and represents a parent-child relationship therebetween; extract a plurality of unstructured values, each associated with at least one of the plurality of semantic entities.