During the past few years there was a requirement from various industries like manufacturing, utilities, oil & gas and financial services for incorporating “events” and “event streams” into the applications. The demand emerged for a technology to be created where we can looked upon these applications as “Complex Event Processing (CEP) Applications” or “Low Latency Monitoring Applications”. These applications were referred to by different names in different domains ranging from manufacturing, utilities, oil & gas, financial services and IT monitoring to web analytics. Still, all these applications shared some common characteristics – the need to process large volumes of data in the form of event streams with minimal latency. In some applications the emphasis was on the ability to process events with very rich payloads (complex events) and in others the emphasis was on the ability to compute with minimum latency over very large event rates. Microsoft released the Microsoft® StreamInsight as Microsoft’s new Complex Event Processing technology to help businesses derive better insights by correlating event streams from multiple sources with near-zero latency.
Microsoft StreamInsight™ is a powerful platform that you can use to develop and deploy complex event processing (CEP) applications. Its high-throughput stream processing architecture and the Microsoft .NET Framework-based development platform enable you to quickly implement robust and highly efficient event processing applications. Event stream sources typically include data from manufacturing applications, financial trading applications, Web analytics, and operational analytics. By using StreamInsight, you can develop CEP applications that derive immediate business value from this raw data by reducing the cost of extracting, analyzing, and correlating the data; and by allowing you to monitor, manage, and mine the data for conditions, opportunities, and defects almost instantly.
By using StreamInsight to develop CEP applications, you can achieve the following tactical and strategic goals for your business:
Monitor your data from multiple sources for meaningful patterns, trends, exceptions, and opportunities.
Analyze and correlate data incrementally while the data is in-flight — that is, without first storing it–yielding very low latency. Aggregate seemingly unrelated events from multiple sources and perform highly complex analyses over time.
Manage your business by performing low-latency analytics on the events and triggering response actions that are defined on your business key performance indicators (KPIs).
Respond quickly to areas of opportunity or threat by incorporating your KPI definitions into the logic of the CEP application, thereby improving operational efficiency and your ability to respond quickly to business opportunities.
Mine events for new business KPIs.
Move toward a predictive business model by mining historical data to continuously refine and improve your KPI definitions.