Master Data Management or MDM is an interesting and relatively new technology space whereby master data records are strictly controlled and managed within an organization. Want to add a new product? Then you need to follow the correct workflow! etc etc.
You would expect that data management issues are far removed from the real-time excitement of CEP applications. But this is not necessarily the case.

- Master data records may well be required during complex event processing, for example to augment event based information. So data processed in a CEP application may be managed in MDM.

- The processes involved in data management can be quite complex and therefore rule-driven [*1]. For example, TIBCO CIM utilizes TIBCO BusinessEvents under the covers.

As can be seen above (diagram courtesy of the TIBCO CIM [*2] team), MDM plays a role in general process automation, analytics, and reporting. So one can envisage where CEP plays in the BAM, BPM and BI spaces to suggest changes to master data, which may (or may not) need manual verification within an MDM workflow, depending on the compliance rules and corporate procedures in place…

Notes:
[*1] The similarity (in concept) between master data management and rule management is discussed in this blog. Of course, MDM is a bit more than just rules, but it provides similar high-level business management and control of automated business functions, and MDM tools like TIBCO CIM include master data rule management as one of its functions.
[*2] More information on TIBCO’s MDM offering, TIBCO CIM, is available here.