Complex event processing: Difference between revisions

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'''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''', or ('''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]], [[Market data|stock market feed]]s, [[traffic report]]s, [[weather forecasting|weather report]]s, or other kinds of data.<ref name=LuckhamD /> An event may also be defined as a "change of state," when a measurement exceeds a predefined threshold of time, temperature, or other value.