Connected environments offer more information, improved data availability and quality which can lead to better decision making; new meaningful information adds new functionalities and opportunities to advance operational efficiency. Can traffic signal system efficiency and mobility be measured and enhanced in innovative and meaningful ways by combining two data sources - connected vehicle-generated and controller event logs? This paper develops a comprehensive signal systems performance assessment framework that aims to offer better understanding of current traffic signal practices and standards and add new functionalities and opportunities to enhance signal systems operations. Its core is a novel performance metric that provides a holistic representation of the system which traditional metrics do not offer. To develop and demonstrate the concept, the study used simulation data in a format that corresponds to high resolution data (signal status and vehicle positions) on a tenth of a second level. Vehicle trajectory information is processed, fused with control data, synthesized to produce "information" required to develop a signalized approach performance estimation method. The data analysis platform presented in this study is intended to comprehensively characterize the state of the signalized system and help identify causes of inferior intersection performance by defining a set of visual and quantitative success indicators. The practicality of this method is reflected in reducing the time and effort required by the existing signal design/retiming practice, since trajectory-signal signatures distinguish between incidents and retiming opportunities caused by changing traffic conditions.