1. A method for processing data in a data processing system, the method including: receiving input data by the data processing system, the input data provided by an application executing on the data processing system; determining a characteristic of the input data; identifying, by the application, a dynamic component from multiple available dynamic components based on the determined characteristic, the multiple available dynamic components being stored in a data storage system; processing the input data using the identified dynamic component; and determining one or more performance metrics associated with the processing.