Combustion instability due to feedback coupling between unsteady heat release and natural acoustic modes can cause catastrophic failure in liquid rocket engines and to predict and prevent these instabilities the mechanisms that drive them must be further elucidated. With this goal in mind, the objective of this thesis was to develop techniques that improve the understanding of the specific underlying physical processes involved in these driving mechanisms. In particular, this work sought to develop a small-scale, optically accessible liquid rocket engine simulator and to apply modern, high-speed diagnostic techniques to characterize the reacting flow and acoustic field within the simulator. Specifically, high-speed (10 kHz), simultaneous data were acquired while the simulator was experiencing a 170 Hz combustion instability using particle image velocimetry, OH planar laser induced fluorescence, CH* chemiluminescence, and dynamic pressure measurements. In addition, this work sought to develop approaches to reduce the large quantities of data acquired, extracting key physical phenomena involved in the driving mechanisms. The initial data reduction approach was chosen based on the fact that the combustion instability problem is often simplified to the point that it can be characterized by an approximately linear constant coefficient system of equations. Consistent with this simplification, the experimental data were analyzed by the dynamic mode decomposition method. The developed approach to apply the dynamic mode decomposition to simultaneously acquired data located a coupled hydrodynamic/combustion/acoustic mode at 1017 Hz. On the other hand, the dynamic mode decomposition's assumed constant operator approach failed to locate any modes of interest near 170 Hz. This led to the development of two new data analysis techniques based on the dynamic mode decomposition and Floquet theory that assume that the experiment is governed by a linear, periodic system of equations. The new periodic-operator data analysis techniques, the Floquet decomposition and the ensemble Floquet decomposition, approximate, from experimental data, the largest moduli Floquet multipliers, which determine the stability of the periodic solution trajectory of the system. The unstable experiment dataset was analyzed with these techniques and the ensemble Floquet decomposition analysis found a large modulus Floquet multiplier and associated mode with a frequency of 169.6 Hz. Furthermore, the approximate Rayleigh criterion indicated that this mode was unstable with respect to combustion instability. Overall, based on the positive finding that the ensemble Floquet decomposition was able to locate an unstable combustion mode at 170 Hz when the operator's time period was set to 1 ms, suggests that the dynamic mode decomposition based 1017 Hz mode parametrically forces the 170 Hz mode, resulting in what could be characterized as a parametric combustion instability.