A system and method for analyzing data (the "system") is disclosed. The system can automatically identify patterns of template data points encapsulated in the form of one or more "events." Calculations and analysis relating to those identified events can be automatically performed at the identified locations of the events. Events are user-defined, and can be defined in reference to multiple channels of data. The system can perform various correlation calculations in comparing events with data points. Upon identifying the location of various events in the various data files, markers can be placed at those file locations. Analysis calculations can then be performed related to the marked data. The system can incorporate the automated time-scaling of patterns, marker sorting heuristics, the adjustment of fit sensitivity based on the size of the pattern, target value weighing, and the calculation of various confidence values relating to the processing of the system.