1. A computer implemented method for event-driven prediction of a metric in a data processing environment, the computer implemented method comprising: observing a set of events in the data processing environment, the set of events being generated by a plurality of processes executing in the data processing environment; tracking a subset of the set of events for an observation period, the tracking resulting in bookkeeping information about the subset of events; detecting a pattern of events in the bookkeeping information by correlating events that pertain to a common process execution into a correlated set and detecting patterns within the correlated set; forming the pattern as a tuple representing a process in the plurality of processes, the metric corresponding to the process; selecting a prediction model for the tuple; supplying the prediction model with the tuple; and executing the prediction model to generate a predicted value of the metric.