Using MATLAB and a National Instruments data acquisition card, a signal processing program meant to monitor the behavior of rotordynamic systems in real-time was developed and tested. By using traditional analysis methods in this field of engineering, commonly desired data representations such as bode, polar, orbit, full spectrum plots were able to be produced to a very high accuracy. Additional capabilities offered by this application are slow roll compensation, synchronous and sub-synchronous filtering, and true three dimensional plotting. The verification of this program was done by comparing the results to the ones acquired with Bently Nevada’s “Automated Diagnostics for Rotating Equipment” (ADRE) system. In addition to a data acquisition program, theoretical models of the two-disk rotor were created to estimate the unknown physical parameters of the system. By simulating the rotor with and without gyroscopic effects included, estimates for the stiffness, damping, eccentricity, initial phase, and initial skew values present in the system were determined.