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As part of the substation and feeder automation systems, various intelligent electronic devices are typically utilized to record and store digital data for protection and monitoring purposes. However, the time value of these measurements has not been paid the due attention. It is demonstrated that the information obtained from the temporal analysis of these data, online current measurements in particular, offer a unique way to prioritize resource allocation and implement a condition assessment methodology based on the incipient behavior of the system. The developed approach was successfully applied to an underground cable lateral in order to assess the severity of captured incipient abnormalities preceding the cable faults. This approach can be extended to include both overhead and underground systems at the enterprise level.