In the next year, you're going to hear a lot more about Complex Event Processing, a technology where latency is measured in milliseconds.
Everybody talks about real-time data processing, but CEP is the real deal. CEP shines when it comes to running real-time, complex analysis on high-volume data streams.
To give you an idea of its power, consider this: It's been used for years primarily by Wall Street, where it compares thousands of trading points with trading algorithms, and by military intelligence, where it's used to analyze network traffic and screen electronic messages.
CEP technology is on the verge of entering mainstream technology, though. You'll soon see it integrated with other, off-the-shelf applications. And that's why you should take a few minutes to read -- or print and read later -- this excellent article from Intelligent Enterprise.
This piece is a thorough introduction to CEP's history, existing deployments, potential uses and the companies that are bringing this technology into the business IT space. Coral8, working with IBM, is one such company. We're not necessarily talking just big business, either. It turns out there's an open source and a free version of CEP technology that small and mid-sized companies will be able to tap for cheaper deployments.
The business potential is huge. In April, I spoke with John Morell, Corel8's director of marketing, about CEP. Morrell said you'll soon see CEP engines integrated with applications from security, IT management, RFID and, of course, financial services.
The article offers a more specific example of how two companies are putting CEP engines to use. For instance, shipper Con-Way Freight integrated CEP with its SOA and event-driven architecture. With CEP, Con-Way is able to analyze everything from its numerous daily shipping appointments to the loading and unloading of its trucks. At some point, Con-Way hopes to use the technology to manage planning issues, such as when to staff extra drivers to offset delivery spikes.