A conceptual model for event processing system with dynamic decision making process

In today's business environment driven by versatile Information and Communication based technologies, the exponentially mounting volume of business events and dealings have to be analysed and processed in an exacting and appropriate event-driven ways to match the requirements. Event Processing is a promising expanse focussed mainly by the countless necessity of enterprises and organisations to retort rapidly to the huge volume of business events. It identifies the prerequisite to upkeep the decision making sequences by dispensation of domain specific procedures in a more effective manner. Event Processing with Dynamic Decision Making process is progressively becoming an imperative measure of enterprise policies for service oriented architectures. The paper principally deliberates the requisite for event processing, the various types of event processing and the significance for an enterprising businesses in implementing event processing systems. The paper explains an event driven architecture for dynamic decision making process visualised by novel conceptual model of event processing using the case scenario of a communication service provider. The architecture is elaborated by conferring business circumstance related to communication service provider that contrivance event processing for improved decision making.