SL‘s new web page, Solutions for CEP Engine Users, discusses how CEP is a “technology that is used to help companies detect both opportunities and threats in real-time with minimal coding and reusable key performance indicators (KPIs) and business models.”
I agree with SL, but would like to suggest my friends at SL expand the notion of KPIs in CEP to include the idea of KIs. In my opinion, the SL phrase should read, “technology that is used to help companies detect both opportunities and threats in real-time with minimal coding and reusable key indicators (KIs) and business models.”
The reason for my suggestion is that KPIs are a subset of KIs. KIs designate, in my mind, more than just performance.
CEP is used to both detect opportunities and threats in real-time which may, or may not be, performance related. For example, when a CEP engine detects evidence of fraudulent behavior, this is a KI. The knowledge, or pattern, used to estimate this situation is a KI not a KPI, per se. Also, when a CEP application is processing market data and indicates that it is the right time to purchase an equity and enter the market, the knowledge used in this decision support application is a KI, not a KPI.
Therefore, I recommend when folks think about the notion of “key performance indicators” (KPIs) in CEP and BAM, they should also think in terms of “key indicators” (KIs). Detecting opportunities and threats in real-time are much broader than the traditional notion of KPIs.
Wow! Sometimes we are reminded why they say “Amazing Thailand!”
Today I was a guest of Starwood Hotels and Resorts to play in a special Starwood golf event at the Alpine Golf and Sports Club just outside of Bangkok. Thank you Starwood and the General Manager of the Royal Orchid Sheraton, Mr. Charles Jack, who was very kind to invite me as his guest.
This is one of the finest golf courses in Thailand (and Thailand has many fine golf courses!)
The Starwood folks were fantastic! Everyone was amazing. Some holes had professional golfers offering tips to help my game. Other holes had delicious Chinese and Thai food. One hole had supurb freezing cold champagne waiting to refresh us from the hot Thai sun!!
The Alpine Golf Course was really challenging, so the champagne was needed as much as appreciated. There was large water hazards on almost every hole; and some of the holes had so many large bunkers I thought I was on the beach! You could not miss a shot, because it you did, it was either in the water, the sand, on rolling hills covered with green trees – and believe me, that is where I played most of the day!!
Everything was great, an amazing experience with a touch of class you can only find in Thailand, plus the added luxury of being the guest of Starwood, which is a also an unbelievable class act as well.
Being a loyal Starwood customer has great privileges, not to mention some of the finest hotel and resort properties in the world, so please, take my advice and become a Starwood member if you are not already.
By the way, I am currently staying at another exceptional Starwood property, the Plaza Athenee Le Meridian. This is a fantastic property. I highly recommend you stay at the Plaza Athenee Le Meridian if you are in Bangkok for business or leisure.
Also, when the current renovation is complete, the Royal Orchid Sheraton, where I often spends weeks at a time, is also highly recommended if you enjoy life on the busy Chao Phraya River.
COSO was originally formed in 1985 to sponsor the National Commission on Fraudulent Financial Reporting, an independent private sector initiative which studied the cause-and-effects that can lead to fraudulent financial reporting.
COSO developed enterprise risk management (ERM) recommendations for public companies and their independent auditors, and also for the SEC, other regulators, and for educational institutions.
At the heart of COSO is events and how events, both opportunity and threat-related events, in context, effect enterprise risk management.
Detecting opportunity and threats in real-time, both mentioned in COSO, is a core CEP concept; so I will be blogging on how CEP relates to COSO and ERM (and also Basel II ORM) in a future blog post.
Please stay tuned …
Joe McKendrick, in Taking the ‘complex’ out of complex event processing, makes a case for renaming CEP, BEP.
Joe references IBM’s Sandy Carter, as I did in my post earlier today, IBM Says Business Event Processing is Not CEP.
Joe wants to change the world “complex” to “business” in CEP because he believes the word “complex” is not good for marketing.
The problem with Joe’s approach, as I see it, is that CEP is different than BEP. However, I remain open-minded on the topic.
There is quite a difference in event-driven orchestration-oriented processing, BEP. and situation detection-oriented event processing, CEP.
BEP is, for the most part, about orchestrating event-driven business processes.
CEP is about detecting opportunities and threats (situations) in real-time.
It is not clear to me that simply renaming BEP CEP touches the core technical and business differences.
I was wondering when IBM would actually jump into the event processing market.
Well, it was announced today that IBM will acquire Aptsoft, adding an event processing platform to the IBM WebSphere porfolio. IBM will also gain AptSoft’s event processing reference customers. This was a smart move by IBM.
However, AptSoft has a more advanced user interface and graphical design-time environment when compared to the Oracle/BEA/Esper platform,; so the IBM/WebSphere/AptSoft offering will propel IBM to the top of the event processing market.
Now, it’s TIBCO’s turn to acquire an event stream (time series) processing platform to compliment their process-driven event processing offering.