There are two main ways that a computer can communicate with another across a network. The most basic of these is via request-response architecture. With this approach, one computer sends a request for data, and the other has to respond to the request. This process must be repeated for all HTTP requests, and while it worked fine in the earlier days of the digital age, the rise of big data and analytics have produced the need for a faster solution. This is where complex event processing comes in.

What is event processing? It's a practice where events, or streams of events, are analyzed by a computer, and automatic action is taken. This allows organizations to collect and analyze data in near real-time and ensures they can act on data while it's still valuable. The more time that passes, such as time spent on slower processes like request-response architecture, the less valuable business data becomes. You'll need stream processing that can respond to event data from multiple data sources in milliseconds to have a true competitive advantage. Organizations typically experience three kinds of events.

• Transaction Events - These are business processes like customer orders, deposits, and invoices that are kept as reference data.
• Information Report Events - This is market data, like research reports or social media reports, that are likely to be stored as master data.
• IoT Data Events - These are reports from devices connected to the internet of things which could be anything from weather reports to GPS location information.

Here are some of the most important ways your organization can benefit thanks to event processing.

Increased Efficiency

Cost Reduction

Customer Service