The event processing manifesto - DROPS

3.2.1 Learn and discover event processing patterns with predictive analytics . ..... implementing advanced IT solutions, we must consider application areas that ...
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The event processing manifesto Written by the participants of the 2010 Dagstuhl seminar on event processing http://www.dagstuhl.de/10201

Dagstuhl Seminar Proceedings 10201 Event Processing http://drops.dagstuhl.de/opus/volltexte/2011/2985

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TABLE OF CONTENTS PREFACE........................................................................................................ 5 EXECUTIVE SUMMARY ..................................................................................... 6 Chapter 1: Why event processing? .................................................................... 7 1.1 What is event processing?........................................................................ 7 1.2 Who should read this? ............................................................................. 7 1.3 Origins of event processing ...................................................................... 8 1.4 Problems solved by event processing......................................................... 8 1.4.1 Manufacturing Execution systems ........................................................ 9 1.4.2 Location-based services ................................................................... 10 1.4.3 Algorithmic trading .......................................................................... 10 1.4.4 Defense intelligence......................................................................... 11 1.5 Criteria for adopting an event processing approach.................................... 12 1.6 Benefits............................................................................................... 15 1.6.1 Event processing systems provide information faster............................ 15 1.6.2 Event processing systems improve the quality of available information ... 15 1.7 Benefits of event processing systems ...................................................... 16 1.7.1 Operational changes can be made sooner, making them more effective .. 16 1.7.2 Radically new, time-sensitive business practices made possible ............. 17 1.7.3 Timely information dissemination leads to better decisions.................... 18 1.7.4 Staff cost is reduced by offloading work to computers .......................... 19 1.8 Build-versus-buy .................................................................................. 19 1.9 Summary – the value of event processing ................................................ 21 Chapter 2: What are the characteristics of event processing? ......................... 22 2.1 What do we mean by event processing?................................................... 22 2.2 Characteristics of event processing applications ........................................ 23 2.3 Event processing application requirements ............................................... 23 2.3.1 Event Input/Output ......................................................................... 24 2.3.2 Data Reduction ........................................................................... 24 2.3.3 Reasoning: ..................................................................................... 24 2.3.4 Context awareness ......................................................................... 24 2.3.5 Logging and analysis ....................................................................... 25 2.3.6 Prediction....................................................................................... 25 2.3.7 Learning and Adaptation............................................................... 26 2.3.8 Distribution .................................................................................... 26 2.4 Non-functional requirements .................................................................. 26 2.4.1 Performance ................................................................................... 26 2.4.2 Availability and Recoverability ........................................................... 27 2.4.3 Consistency and Integrity in a distributed system ................................ 28 2.4.4 Security and privacy ......