A system and method of operating a storage system is provided. The storage system includes a tape cartridge having a magnetic tape medium and a tape drive for reading and writing data to the magnetic tape medium of the tape cartridge. Performance data associated with specific operating loci (e.g., bands, directions, tracks, segments, etc.) of the tape drive and tape medium are collected, analyzed, and stored, allowing for analysis and detection of trends over time. In one example, tape usage events are monitored and when they cross a threshold the system may remove particular tapes in a preventative maintenance approach to reduce system outage. Performance data is collected and analyzed with a portion of the performance data being saved to emulated medium auxiliary memory (EMAM) on the magnetic tape, and a portion of the of the performance data saved in non-volatile storage in the drive.