Sunday, February 12, 2012

On revision and compensation in event processing

The event processing course that I taught in the Technion has ended (except for the make-up exam in March). This year the students' project has been different from the last couple of years (well, I am bored having the same type of project all over again).  The students were asked to select a research project.  My Teaching Assistant was very skeptic about the students' abilities to do such projects, but after the presentations they did in the last class summarizing what they did so far she changed her mind.    I'll write about these projects after they'll be submitted (due in early March).   One project is investigating the issue of compensation and revision in event processing,  I have written about revisions before,  both in general,  and specifically related to event processing.  
There are couple of motivations of why I have returned to be interested in it now. 

One of them is the investigation of uncertain events,  since more information may be acquired with time about events that are uncertain,  a revision might be needed.
The second is the work on future events,  since future events are obtained using a forecasting process, this forecasting process is not a one-time process, but can be sensitive to additional events that happen between the forecast and the occurrence of the future event, thus the forecast itself may be revised.  
The issue of revision may entail the need for compensation for decisions and actions already taken.

  • In some cases it is easy, example when no action was taken and it is still possible to take action
  • In some cases it is impossible, if an action has been taken, and this action cannot be retracted, 
  • In the remaining of the cases, it might be possible, however not always cost-effective, since it might have cascading effect of compensating for large amount of actions. 

After getting the students' work, I'll write again about this issue. 

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