The present invention is an online methodology for end point detection for use in a chemical mechanical planarization process which is both robust and inexpensive while overcoming some of the drawbacks of the existing end point detection approaches currently known in the art. The present invention provides a system and method for identifying a significant event in a chemical mechanical planarization process including the steps of decomposing coefficient of friction data acquired from a chemical mechanical planarization process using wavelet-based multiresolution analysis, and applying a sequential probability ratio test for variance on the decomposed data to identify a significant event in the chemical mechanical planarization process.