A detailed statistical analysis of beam position monitors (BPM) performance at RHIC is a critical factor in improving regular operations and future runs. Robust identification of malfunctioning BPMs plays an important role in any orbit or turn-by-turn analysis. Singular value decomposition and Fourier transform methods, which have evolved as powerful numerical techniques in signal processing, will aid in such identification from BPM data. This is the first attempt at RHIC to use a large set of data to statistically enhance the capability of these two techniques and determine BPM performance. A comparison from run 2003 data shows striking agreement between the two methods and hence can be used to improve BPM functioning at RHIC and possibly other accelerators.