1. A method comprising: in an information technology infrastructure in which at least one metric is monitored, using a computer to: collect data from the at least one metric and store the data; transform the data with at least one model from an analytics model library and at least one model library rule and storing the transformed data in a set of historical transformed data; determine a dynamic threshold that is not static on a time slice by time slice basis by using the set of historical transformed data to generate a value describing a limit of normal functionality for a given time slice of a component in the IT infrastructure that the at least one metric measures; and modify the dynamic threshold periodically to reflect recent historical transformed data by replacing old data with more recent historical data in the set of historical transformed data.