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Event-stream processing (ESP) is a group of technologies engineered to facilitate the generation of event-driven information systems. ESP is comprised of basic elements like event visualization, event databases, event-driven middleware and event processing languages (also known as complex event processing (CEP).
Although ESP and CEP are slightly different, they are often used interchangeably.
ESP processes data from various sources in an attempt to identify meaning within complex patterns of events. In order to do this, ESP uses techniques such as:
ESP is used to conduct algorithmic securities trading, to detect fraud and to aid in the provision of location-based telecommunication services.