1. A method for providing in-service diagnostics in an information handling system having a non-transitory computer readable storage medium, the method comprising: monitoring a plurality of parameters indicative of the health of the information handling system and its components; storing, on the non-transitory computer readable storage medium, data related to the plurality of parameters; detecting a health signature of the information handling system based on the data; selecting, based on the health signature of the information handling system, a diagnostic test to execute; scheduling the selected diagnostic test; executing the selected diagnostic test; and reporting the result of the selected diagnostic test to a system administrator upon detection of a failure or error.