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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''' ('''CEP''') consists of a set of concepts and techniques developed in the early 1990s for processing real-time events and extracting information from event streams as they arrive. The goal of complex event processing is to identify meaningful events (such as [[business opportunity|opportunities]] or threats)<ref name=Bates>{{citation|last=Bates|first=John|title=John Bates of Progress explains how complex event processing works and how it can simplify the use of algorithms for finding and capturing trading opportunities|date=15 June 2011|url=http://fixglobal.com/home/secrets-revealed-trading-tools-uncover-hidden-opportunities/|publisher=Fix Global Trading|access-date=May 14, 2012}}</ref> in real-time situations and respond to them as quickly as possible.
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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* [[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>
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* [[TIBCO| TIBCO BusinessEvents & Streambase ]] - CEP platform and High Performance Low Latency Event Stream Processing
* [[WebSphere Business Events]]
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