The Progress Real Time Division has announced the launch of the Progress ESP Platform. Progress ESP delivers tools that allow business users to create applications that can monitor real-time event streams, detect and analyse event patterns, and take action in milliseconds.
Already in use at financial services organisations in the UK, United States and Europe, the Progress ESP Platform extends event stream processing to a wide range of new markets. Now able to exploit the power and flexibility of the Progress event platform are applications such as RFID-enabled asset tracking and business activity monitoring (BAM), for real-time visibility of business processes, enterprise risk management, monitoring and control of telecommunications, industrial, and utility networks, and energy trading.
“The Progress ESP platform has proven itself to meet the extremely fast-paced demands of financial service organisations where algorithm-driven trading programs must be created in hours, not days, by IT and business users alike. And they must capture, analyse and act on tens of thousands of data points per second, responding within milliseconds,” said Mark Palmer, vice president, event stream processing, Progress Real Time Division. “We now extend that same field-proven technology outside financial services to meet the growing demand for ESP applications in other markets.”
“There are important financial and strategic benefits to implementing event-driven business processes,” said Roy W. Schulte, Vice President Distinguished Analyst at Gartner. “The most-powerful forms of event-driven applications require event stream processing. Companies will need event stream processing to implement certain types of systems for competitive advantage and regulatory compliance. Event stream processing will help companies achieve the visibility they need to compete in a complex, fast-shifting, event-driven world.”