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RandFreeman (talk | contribs) Adding local short description: "Method of analysing information about events", overriding Wikidata description "approach to processing events in software engineering, aiming to identify meaningful events such as opportunities or threats in real-time situations and respond as quickly as possible" |
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{{Short description|Method of analysing information about events}}
'''Event processing''' is a method of tracking and [[data analytics|analyzing]] (processing) streams of information (data) about things that happen (events),<ref name=LuckhamD>{{cite book|last=Luckham|first=David C.|title=Event Processing for Business: Organizing the Real-Time Enterprise|url=http://ee.stanford.edu/~luckham/|publisher=John Wiley & Sons, Inc.|___location = Hoboken, New Jersey|year=2012|page=3|isbn=978-0-470-53485-4}}</ref> and deriving a conclusion from them. '''Complex event processing'''
These events may be happening across the various layers of an organization as sales leads, orders or [[customer service]] calls. Or, they may be news items,<ref>{{citation|last=Crosman|first=Penny|title=Aleri, Ravenpack to Feed News into Trading Algos|url=http://www.wallstreetandtech.com/articles/217500395|publisher=Wall Street & Technology|date=May 18, 2009}}{{Dead link|date=July 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> [[text message]]s, [[social media]] [[Posting style|posts]],
Analysts have suggested that CEP will give organizations a new way to analyze patterns in real-time and help the business side communicate better with IT and service departments.<ref>{{citation|last=McKay|first=Lauren|title=Forrester Gives a Welcoming Wave to Complex Event Processing|url=http://www.destinationcrm.com/Articles/CRM-News/Daily-News/Forrester-Gives-a-Welcoming-Wave-to-Complex-Event-Processing-55492.aspx|publisher=Destination CRM|date=August 13, 2009}}</ref> CEP has since become an enabling technology in many systems that are used to take immediate action in response to incoming streams of events. Applications are now to be found (2018) in many sectors of business including stock market trading systems, [[mobile device]]s, internet operations, [[fraud detection]], the [[transportation industry]], and [[Intelligence gathering network|governmental intelligence gathering]].
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* Event-[[pattern detection]]
* Event [[Abstraction (computer science)|abstraction]]
* Event filtering
* Event aggregation and transformation
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==History==
The CEP area has roots in [[discrete event simulation]], the [[active database]] area and some programming languages. The activity in the industry was preceded by a wave of research projects in the 1990s. According to<ref>{{citation|last=Leavit|first=Neal|title=Complex-Event Processing Poised for Growth|url= http://www.computer.org/csdl/mags/co/2009/04/mco2009040017-abs.html|publisher=Computer, vol. 42, no. 4, pp. 17-20 Washington|date=April 2009}}</ref> the first project that paved the way to a generic CEP language and execution model was the Rapide project in [[Stanford University]], directed by [[David Luckham]]. In parallel there have been two other research projects: Infospheres in [[California Institute of Technology]], directed by [[K. Mani Chandy]], and [[Apama (software)|Apama]] in [[University of Cambridge]] directed by John Bates. The commercial products were dependents of the concepts developed in these and some later research projects. Community efforts started in a series of event processing
==Related concepts==
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The ideal case for CEP analysis is to view historical time series and real-time streaming data as a single time continuum. What happened yesterday, last week or last month is simply an extension of what is occurring today and what may occur in the future. An example may involve comparing current market volumes to historic volumes, prices and volatility for trade execution logic. Or the need to act upon live market prices may involve comparisons to benchmarks that include sector and index movements, whose intra-day and historic trends gauge volatility and smooth outliers.
==Internet of
Complex event processing is a key enabler in [[Internet of
==See also==
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* [[Azure Stream Analytics]]
* [[Drools|Drools Fusion]]
* [[Esper (software)|Esper]] Complex event processing for Java and C# (GPLv2).
* [[Feedzai|Feedzai - Pulse]]
* [[Microsoft|Microsoft StreamInsight]] Microsoft CEP Engine implementation<ref>{{cite web|url=https://technet.microsoft.com/en-us/library/ee362541(v=sql.111).aspx|title=Microsoft StreamInsight|website=technet.microsoft.com|date=28 July 2016 }}</ref>
* [[openPDC]] — A set of applications for processing streaming time-series data in real-time.
* [[Oracle SOA Suite|Oracle Event Processing]] - for building applications to filter, correlate, and process events in real time.
* [[SAP SE|SAP ESP]] - A low-latency, rapid development and deployment platform that allows processing multiple streams of data in real time<ref>{{Cite web |url=http://scn.sap.com/community/developer-center/esp |title=SAP ESP - Developers community |access-date=2014-07-17 |archive-url=https://web.archive.org/web/20150105095944/http://scn.sap.com/community/developer-center/esp |archive-date=2015-01-05 |url-status=dead }}</ref>
*
* [[TIBCO| TIBCO BusinessEvents & Streambase ]] - CEP platform and High Performance Low Latency Event Stream Processing
* [[WebSphere Business Events]]
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