Dr. K. Mani Chandy and Roy Schulte recently published an article on ebizQ entitled The Role of Event Processing in Modern Business. I liked this article because it focuses on event processing (EDA, ESP and CEP) in the context of business.
The article describes three capabilities of an adaptive enterprise: situational awareness, sense and respond and track and trace:
"Situational awareness implies having an up-to-the-minute understanding of all critical aspects of your internal operations and the external environment. It is "knowing what is going on so you can figure out what to do" (Adam 1993). Sense-and-respond has a similar flavor, and in fact, the term is sometimes used interchangeably with situational awareness. However sense-and-respond emphasizes timely reaction to specified opportunities and threats whereas situational awareness connotes having a holistic view of many factors.
Track-and-trace is a bit different. It focuses on recording the status of identified items as they move between physical locations or through the steps of a business process. For example, logistic systems track-and-trace movements of physical goods in supply chains. They tell users where a shipment has been and where it is now, predict when it will arrive at a destination and can prove that it was delivered. The idea of track-and-trace can also apply to the movement of insurance claims, customer orders and other information-based items as they go through their life cycles."
From this business context, the article proceeds to discuss event processing definitions, EDA design patterns, patterns of response and the relationship of event processing and business intelligence, via BAM.
I found the article largely consistent with my own views and writing. Of course, terminology varies. But, that is something the event processing community is working together to address.
[Disclosures: Elemental Links has a business relationship with ebizQ, none with Gartner. Although I’d be happy to receive a press pass to the Event Processing Summit 🙂 ]