Orlando, FL-- June 3, 2008 – Industry leaders from companies including Coral8, Inc., Gartner Research, IBM, Oracle, Progress Software, StreamBase and TIBCO Software Inc. today announced the formation of a new industry consortium named the Event Processing Technical Society (EPTS). The members of the EPTS have agreed to work together to facilitate the adoption and effective use of event processing in a wide range of applications across all industries.
Dr. David Luckham, a pioneer in this field, explains: “We've had decades of development of event processing technology for simulation systems, networking, and operations management. Now, the explosion in the amount of business event data being generated in modern enterprises demands a new event processing technology foundation for business intelligence and enterprise management applications.”
“Almost every company has operational or other continuously running activities that require rapid, informed responses to changing conditions,” said to Roy Schulte, Vice President and Analyst at Gartner Research. “Examples include factory floors, customer contact centers, retail stores and bank branches, casino gaming rooms, Web sites, bank ATM systems, communication networks and transportation operations. A typical large company deals with 100,000 to 1 million business events per second.”
Specifically, the EPTS has five initial goals:
- Document usage scenarios where event processing brings business benefits
- Develop a common event processing glossary for its members and the community-at-large to use when dealing with event processing;
- Accelerate the development and dissemination of best practices for event processing;
- Encourage academic research, help in establishment of event processing as a research discipline, and help in collaboration between the research community and the industry, by encouraging the funding of such applied research;
- Work with existing standards development organizations such as OMG, OASIS and W3C to disseminate and where necessary incubate a set of consistent; standards in the areas of: event formats, event processing interoperability, event processing (meta) modeling and (meta) languages; EPTS does not plan to develop standards itself.
“Event processing has already gained noticeable traction, however there is much growth remaining, and with that growth comes challenges. In EPTS, we bring together the leading minds among vendors, researchers, analysts, integrators and customers, to collaborate to address the challenges,” said Dr. Opher Etzion, Chair of the EPTS steering committee. “I am fully confident that the activities of EPTS will generate a continuous flow of results, which will help in gaining increasing business value from the use of event processing technologies.”
Among the initial deliverables of the EPTS is a common glossary describing key industry terms. An initial draft of the proposed glossary is already underway. In support of the usage scenarios, a use case workgroup is generating templates around documentation and presentation of the use cases, and will apply it to a variety of real world case studies. In parallel to developing the scenarios, a team will be pulled together to study and formulate recommendation and best practices around event processing application design, implementation and its usage.
In addition, the EPTS is forming three additional work groups:
- The first group will focus on developing information on event processingarchitecture and functionality using the use case analysis work;
- The second group will identify requirements for interoperability among event processing applications and platforms;
- The third group will collaborate with the academic community to help establish academic courses in this area.
All EPTS materials can viewed at www.ep-ts.com. To join today's conference call at
11 a.m. ET detailing the organizations goals please dial in as follows:
Conference Telephone: 888-204-4349
or for International calls: 913-312-1424
Confirmation Code: 9984820
Organizations or individuals interested in joining the EPTS, can send an email to info@ep-ts.com.
The next EPTS meeting will be held on September 17-19, 2008 in Stamford, CT. Those wishing to participate, please visit www.ep-ts.com for additional information.
Background on the Event Processing Technical Society:
The mission of the Event Processing Technical Society is to increase awareness of event processing, to establish a common set of terminology and to guide event processing standards efforts in support of business and academia. The EPTS membership is open to any organization wishing to further the practice of event processing. A full list of founding members is available in www.ep-ts.com. Requests for information can be sent to info@ep-ts.com.
Trademarks or service marks contained herein are the property of their respective owners.
Event Processing Technical Society
Quotes from participating businesses and academia
“Coral8 is proud and excited to be a founding and steering committee member of the EPTS to help further industry knowledge and use of event processing software,” said John Morrell, Director of Product Marketing, Coral8, Inc. “Our company was founded on the premise that event processing would be pervasive infrastructure software used in applications across multiple industries and disciplines. The EPTS will actively foster the knowledge and best practices to make this a reality.”
www.coral8.com
“Between now and 2012, enterprises will increase their use of Complex-event Processing (CEP) by 25% per year, and their use of commercial CEP products by more than 50% per year; The EPTS will focus on improving the quality and reducing the time and cost of implementing applications that leverage event processing.” said Roy Schulte, Vice President and Analyst at Gartner Research.
www.gartner.com
"Our customers are developing business event processing solutions to incorporate the exploding amount of information coming from real world events into their business processes.", said Karla Norsworthy, IBM, VP of SWG software standards. " EPTS will be an important industry forum for academia, vendors and enterprises deploying these solutions to advance the state of event processing technologies and set the direction for open, standards based interoperability."
www.ibm.com
“We have had the unique experience of witnessing event processing evolve from an academic concept to a powerful, mature tool that is helping Fortune 500 companies make smarter, more profitable business decisions,” said John Bates, founder and general manager, Progress Apama. “I have been involved in event processing from the conceptual phase and it is incredibly gratifying to see the success we've had in developing it into a market-leading solution. The Event Processing Technical Society will help the industry pioneers to translate the benefits of event processing and accelerate its uptake, which is our ultimate goal.”
www.progress.com
"We are pleased to be a founding member of the Event Processing Technology Society, renewing our commitment to open standards and academic-industrial cooperation," said Richard Tibbetts, founder and chief architect, StreamBase Systems. "Combining academic insight with industrial expertise has allowed us to solve mission-critical event processing problems for customers in a variety of markets. We look forward to working with the consortium to further expand the applications of event processing."
www.streambase.com
"The launch of the EPTS represents an important milestone in the evolution and public acceptance of event processing as a mainstream software technology," said Alan Lundberg, product marketing director for TIBCO. "Event processing is already used successfully in large scale mission-critical situations including financial trading and supply chain management. We look forward to working with the academic and end user communities as well as the large and small companies that form the EPTS to guide standards essential to cross organizational collaboration required by business users in today's global enterprises."
www.tibco.com