On Tuesday, January 16 2007, SDForumâ€™s Business Intelligence SIG hosted Mark Tsimelzon, President, CTO, and Founder of Coral8, to talk about Complex Event Processing (CEP).
The days of large institutions batch processing large chunks of data are long gone. Making sense of the huge amount of transaction data streaming through a company is like drinking from a fire hose. Database applications for businesses like program trading, risk management, fraud detection, intrusion detection, server grid monitoring, application monitoring, Software License Agreements (SLA) monitoring, business process monitoring, sensor networks, Radio Frequency Identification (RFID) applications, power grid monitoring all require immediate attention.
He talked about investment firms that hired armies of expert C programmers to write software to counteract fraud. They were let go when the project was finished. No one in the company had the expertise to update the system when new ways of fraud were discovered. This inflexibility costs millions of dollars.
At Corel8, Tsimelzon has come up with a way to process and analyze very large volumes of events (1000-1,000,000 events/second) in real-time, often with the latency measured in seconds or even milliseconds. He calls these products Complex Event Processing engines. Many CEPs offer a higher-level programming model and a set of constructs that easier to write and modify.
One of the keys to success is a thorough understanding of your companyâ€™s business processes. The other is ensuring reliable data as it flows through the CEP engine. Tsimelzonâ€™s strategies are giving companies tools to face the logistical nightmare of managing increasing amounts of data.
Copyright 2007 DJ Cline All rights reserved.