The demand for complex event processing (CEP) is showing no signs of slowing down. With so many businesses operating on a much larger scale, the need for mass communications and complex computations is crucial. With CEP, companies can show drastic improvements in their productivity through automation and algorithmic functions to ensure incredibly fast results.
CEP has been known to process extremely high-volume and complex tasks that deal with many important aspects of business. It can sort through large volumes of messages and data sets in real time. It can help detect fraud and risk management to help ensure an organization's cyber safety. Additionally, it can perform and deploy crucial sensor network tasks such as air traffic monitoring, according to Code Haus.
In fact, there is such a large demand for this crucial technology that some are predicting huge profit gains within the next few years. A recent report from the advisory firm Celent is projecting major growth in the financial market for CEP solutions, as its current value of $115 million could exceed upwards of $276 million by 2013, according to Wall Street and Tech.
A major reason for the huge spike in demand is that firms are now intensely relying on as much information as possible in an effort to avoid financial pitfalls and crises similar to the economic collapse from recent years. The damage from the struggling economy still has many businesses in recovery mode.
"Enterprise architects will need to rethink architecture and mold it in ways such that it becomes amenable to multiple instances of data being consumed and published by various modules in real time," Muralidhar Dasar, author of the report told the source.
However, the problem with this type of technology is that it so heavily relies on accurate data. The best way to ensure the information being reviewed and analyzed is correct is through intense data quality
analyzation. Having a quality data solution is a smart idea for many businesses that routinely engage in CEP.
Through cleansing and deduplication techniques, third-party data quality solutions can help make sure that data is reliable and accurate. It can help to keep your data fresh by removing stale or misleading information, and can also eliminate any inconsistencies that may arise in the process.
By Paul Newton