by Jack Vaughan
This week Complex Event Processing (CEP) software house Aleri Inc. announced that Swedbank had selected Aleri’s Liquidity Risk Manager (LRM) as its liquidity risk management tool. Such tools have continued to flourish despite – or perhaps because of – a worldwide economic slowdown. Earlier this year, Aleri merged with former CEP competitor Coral8.
Aleri is promoting the notion of ”Continuous Intelligence” as it spreads the CEP gospel. The contention is that having continual feedback on operations helps executives make faster, better decisions.
With at least a small rebound apparently underway, Aleri says it is seeing greater use of CEP outside of its home bed of finance. For example, the company has partnered with Integral Analytics, a provider and consultancy for smart energy grid systems, to develop real-time energy grid management applications for power and utility companies. Aleri also has partnered with Web analytics consulting firm Semphonic CEP to make solutions that allow organizations with online commerce to monitor customer behavior and buying patterns as they occur.
“What we do is provide a high-level authoring environ to express your business logic,” said Jeff Wootton, vice president of product strategy, Aleri.
“CEP got its start in tech markets where it’s all about responding quickly to changing conditions,” he continued. “Now we see the awareness spread to other industries. We believe it has wide applicability.”
Indications are that CEP efforts are increasingly complementing existing online analytical processing (OLAP), data warehouse and data reporting efforts. With CEP today, you define patterns, you set up systems to monitor streams of messages, and you report the outcomes. Besides reporting, you can set up systems to respond automatically after discerning certain patterns in data sets. The main difference from this and OLAP is that things happen much faster.