1. A system, comprising: a diagnostics system, comprising: a detection system configured to capture acoustic information related to an event associated with a machine component, wherein the detection system associates the acoustic information with contextual information related to the machine component; communications circuitry configured to communicatively couple the detection system with a computing system, wherein the computing system is coupled to a processor configured to: receive the acoustic information and the contextual information from the detection system; select one or more algorithms based at least in part on the contextual information; retrieve and execute the one or more algorithms to extract one or more characteristic features of the acoustic information; and generate an acoustic fingerprint based at least in part on the one or more characteristic features of the acoustic information, wherein the one or more characteristic features correspond to the event associated with the machine component.