Making the Case for Complex Event Processing Software

by John Morrell, Coral8,
from DMReview

Complex event processing (CEP) involves the continuous processing and analysis of high-volume, high-speed data streams from inside and outside an organization to detect business-critical issues as they happen. In comparison to traditional intelligence processes, which provide delayed analysis, CEP software processes data streams and detects business events in real-time. Some examples of CEP applications are:

• Real-time financial market data analysis and enrichment,
• Financial trade auditing and compliance,
• IT security event correlation,
• Asset management and tracking using RFID, and
• Manufacturing process, power grid or energy pipeline monitoring.

The vast majority of event processing applications today are custom-coded. Much of this custom coding effort, however, can be eliminated by using CEP software; the level of time and cost savings corresponds with the complexity of the event processing application. The remainder of this article will articulate a framework by which you can understand where and to what degree CEP software can offer cost savings over custom development. Read the article