1. A system associated with a sensing roll and a mating roll for collecting roll data comprising: the sensing roll and mating roll located relative to one another to create a nip therebetween, wherein a web of material travels through the nip from an upstream direction to a downstream direction and a continuous band, arranged to travel around in a loop pattern, contacts at least a region of the web of material upstream from the nip; a plurality of sensors located at axially spaced-apart locations of the sensing roll, wherein each sensor enters a region of the nip during each rotation of the sensing roll to generate a respective sensor signal; structure for generating a periodically occurring time reference associated with each rotation of the continuous band around the loop pattern; and a processor to receive the periodically occurring time reference and the respective sensor signal generated by each sensor and, after receiving the respective sensor signal, the processor operates to: determine a particular one of the plurality of sensors which generated the respective sensor signal, based upon an amount of time that elapsed between when the respective sensor signal was generated and a most recent time reference, identify one of a plurality of time-based tracking segments associated with the continuous band, wherein each of the plurality of tracking segments is, respectively, associated with a different amount of elapsed time, and store the respective sensor signal to associate the respective sensor signal with the identified one time-based tracking segment.