" ... Event processing is a method of tracking and analyzing (processing) streams of information (data) about things that happen (events), and deriving a conclusion from them. Complex event processing, or CEP, is event processing that combines data from multiple sources to infer events or patterns that suggest more complicated circumstances. The goal of complex event processing is to identify meaningful events (such as opportunities or threats) and respond to them as quickly as possible.
These events may be happening across the various layers of an organization as sales leads, orders or customer service calls. Or, they may be news items, text messages, social media posts, stock market feeds, traffic reports, weather reports, or other kinds of data. An event may also be defined as a "change of state," when a measurement exceeds a predefined threshold of time, temperature, or other value. Analysts suggest that CEP will give organizations a new way to analyze patterns in real-time and help the business side communicate better with IT and service departments.
The vast amount of information available about events is sometimes referred to as the event cloud.... "
Note potential interaction with Business Process Management (BPM), And uses with IoT applications.
An incomplete list of related vendors and packages:
Apama by Software AG
Microsoft StreamInsight Microsoft CEP
Oracle Event Processing
BRMS - A rules management engine
SQLstream SQLstream’s stream processing platform
TIBCO BusinessEvents & Streambase
WebSphere Business Events
Splunk ... "