Function answers the question --- what is being done ?
Technique answers the question -- how something being done ?
Application answers the question --- what is the problem being solved ?
- Business Activity Monitoring (BAM) is an application type, it solves the problem of controlling the business activities in order to optimize the business, deal with exceptions etc...
- Business Rules are type of technique --- which can be used to infer facts from other facts or rules (inference rules) , or to determine action when event occurs and condition is satisfied (ECA rules) and more (there are at least half a dozen types of rules, which are techniques to do something).
- Event Processing is really a set of functions which does what the name indicates -- process events --- processing can be filtering, transforming, enriching, routing, detect patterns, deriving and some more.
The functions of event processing is typically used for several motivations:
- Observation into business processes, business activity monitoring.
- Dynamic reaction and modification to transactions and business processes
- Diagnosis of problems and finding root-cause.
- Prediction of future problematic events that need to be eliminated or mitigated
- Dissemination of data in motion to arrive to the right person at the right time in the right granularity.
Bottom line: the confusion is a result of equating terms from various classes, and resolving this confusion is indeed very simple.