Event Stream Processing (ESP)

A set of technologies designed to assist the construction of event-driven information systems. Includes:

• Event Visualization
• Event Databases
• Event-Driven Middleware
• Event Processing Languages
• Complex Event Processing

ESP enables algorithmic trading in financial services, RFID event processing applications, fraud detection, process monitoring, and location-based services in telecommunications.

Complex Event Processing (CEP)

An event processing concept used to develop event-driven systems. Multiple events from an event cloud are processed to identify the meaningful events. CEP employs techniques such as detection of complex patterns of many events, event correlation and abstraction, event hierarchies, and relationships between events such as causality, membership, and timing, and event-driven processes.

An Event Processing Language (EPL) Example

WHEN Person. Gender EQUALS “man” AND Person. Clothes EQUALS “tuxedo”
FOLLOWED-BY
  Person. Clothes EQUALS “gown” AND
  Church_Bell OR
  Rice_Flying
WITHIN 2 hours
ACTION Wedding

Event Stream Processing