How Complex Event Processing Changed Over Time
Can organizations solve real-time problems by gathering business intelligence in a dynamic way? This is a million dollar question in recent times in every major organization and seeking answer in high times of huge IT Investments. Will every organization would be able to tap the real value potential from their SOA and BPM and so called traditional integrations. Yes this write-up will present that how CEP (Complex Event Processing) has changed the system integration landscape in a dynamic way, coupling with SOA and BPM platforms and serve the real time event generation.
Every organization starting from retail, banking, automobile, entertainment, insurance and healthcare industries pose with different set of questions and finding answer through event generation on real time.
- What combinations of products are our customers buying right now, and how should we spend our advertising dollars?
- Do securities pricing trends indicate a buying or a selling opportunity right now?
- Are our new vehicles taking a hit in the right locations with right directions and what the customer wants to have?
- How many times customers visit the online portal for specific products and what they are interested off?
- Which sequence of banking customer activities happening now should we investigate for cross sell up sell opportunities?
Recently there has been a major swing from normal integration landscape to a modern era integration with concepts of Enterprise service bus, Service oriented architecture and business process management. Every enterprise spends huge time in investing high integration strategy thinking of SOA based platform and BPM based integrations. Well when everything is wired and made easy, the next level comes into picture how well the whole IT infrastructure can be tapped to seek business potentials. Well CEP (Complex event processing) is one of the top 8 innovations of 2010 that changes human life (courtesy : Time magazine) and CEP systems monitor’s simple events and decisions to identify patterns in real time by combining rules, events and real-time data in the same system to allow organizations to react intelligently to business events.
There are many BI tools available in the market, but still there are missing pieces for collecting and processing data in high efficient way. This is where CEP comes into picture where it can process high end querying and avail real time solutions for day to day business coupled with unrealistic IT issues. For example 70% of the trading done in the US stock market every day depends on streaming data, and much of it uses event processing technology. In the late 90’s the inventors of the relational database were using SQL linked from multiple set of databases to build CEP engine. This seems to be simple thing, but was very complex to implement. After ten years on and driven by pioneers in financial services, event processing currently process quadrillions of dollars a year on electronic Wall Street. This is where CEP has been proving to be one of the fine edged concepts in this dynamic IT revolution.
