Method and apparatus for collecting drill bit performance data

Drill bits and methods for sampling sensor data associated with a state of a drill bit are disclosed. A drill bit for drilling a subterranean formation comprises a bit configured for receiving a data analysis module. The data analysis module comprises at least one sensor, a memory, and a processor. The processor is configured for executing computer instructions to filter information derived from sensor data in the drill bit to develop a piecewise polynomial curve of the sensor data. Filtering information derived from the sensor data comprises approximating a first derivative of a sensor data waveform, calculating a plurality of zeros for the first derivative of the sensor data waveform, and fitting a cubic polynomial between adjacent zeros calculated from the first derivative of the sensor data waveform resulting in a piecewise cubic polynomial.