It is nice concept to explore and get benefit out it.
Simple Notes: http://en.wikipedia.org/wiki/Complex_event_processing
More Advanced Information: http://www.thecepblog.com/what-is-complex-event-processing/
Open Source product for implementation: http://www.espertech.com/index.php
Unknowingly all of us do Complex Event Processing in our day to day life.
Question 1: Whey today lot of people are driving from north to center of Atlanta?
We are trying to analyse many events and trying to understand. We find that there is a game in town.
Question 2: Why stock x sold at very high volume today?
Digging into news will tell the details of it.