The discipline that connects prognostics and system lifecycle management is often referred to as prognostics and health management (PHM). Though prognostics is one of the main parts of PHM, it is the least mature. This paper is based on the past work of data driven prognostics applied in the field of power electronics modules and primarily concerned with the data driven prognostics methods that take advantage of measured characteristics of individual systems or components in order to predict the remaining useful life (RUL).