Complex Event Processing

Complex event processing software is the engine behind a new generation of real-time applications which allow you to find and take advantage of new opportunities in rapidly changing electronic markets, understand customer behavior in real-time to increase wallet-share, or always knowing where products and assets are allocated and for realignment on a moments notice. In effect, CEP makes your business more agile.

Complex event processing software is a new breed of off-the-shelf infrastructure software that can be applied to a large number of business and technology solutions across multiple industries. Scalable, reusable, off-the-shelf CEP software:

  • Allows real-time, event-driven applications to be developed faster and at a lower cost
  • Reduces long-term maintenance costs of real-time applications
  • Drives an economy of scale cost benefit for programming and administration

The Coral8 Engine is enabling a large set of complex event processing applications. The feature-rich Coral8 Engine, fast growing Coral8 Developer Network, and channel-friendly business model position Coral8 as the fast-growing industry leader.

CEP Applications

Applications built with CEP software typically fall into four categories:

  1. High-speed data analysis – this is where high volumes of data must be aggregated, calculations performed, and thresholds monitored to drive automated actions or alert key personnel. It is very typical of financial market applications (e.g. market data analysis or algorithmic trading).
  2. High-speed context capture – this is where multiple event data streams are combined, correlated, filtered and captured, then sent to a reporting system or application. A specific example is in financial trading compliance, where you need to capture windows of bid/ask data before and after a trade for future compliance reporting. There are similar other compliance or billing application examples.
  3. Event Pattern Detection – this is where event streams are first filtered and combined, searched for patterns in realtime to find combinations of events that represent erroneous, faulty, or fraudulent conditions, and then alerts are generated. The most obvious examples here are fraud detection, network monitoring, and security monitoring.
  4. Business Process Monitoring – this is where event streams represent different business process states which need to be monitored for performance and exceptions. Beyond the typical filtering, aggregation and computations involved, the users also need a means to express the different states of the business process and how the data represents these states. Examples include settlement or clearance processes, product distribution, shipment tracking and more.

The Coral8 engine, with its versatile CEP technology, language and tools, is designed to meet the needs of all four of these CEP application areas. Each of these application categories will use different feature sets of the Coral8 engine, and specific features of the language such as stream joins, filters, thresholds, or event pattern matching.