The global marketplace has accelerated the pace of commoditization of products and services. As a result, businesses are seeking to differentiate themselves based on the strategic and tactical use of information. Data collected by corporate systems can be a significant competitive advantage as it can be used to extract knowledge that is exclusive to the company. This knowledge can be used to increase sales, enhance service and reduce fraud. Consequently, companies are collecting more and more data about their customers, products, suppliers and processes. However, this trend is straining corporate architectures because data warehouses and transactional systems are not equipped to handle the onslaught of new data. Further, while business intelligence (BI) systems have matured in their ability to sift through data to find insights, they continue to struggle in enabling a company to take action on the knowledge.
Fortunately, an emerging technology called complex event processing (CEP) can help. CEP allows a business to leverage its data assets by encapsulating knowledge into complex patterns of events and enabling an infrastructure for real-time response. It also buffers corporate networks and data warehouses from being consumed by data as new technologies are implemented to record every micro-event within an organization.
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