1. A computer-implemented method comprising: receiving a first event from a computing device over a computer network, wherein the first event is selected from the group consisting of a computer system event and a business event, the computer system event corresponding to a resource problem within a computer system and the business event corresponding to a business transaction; comparing the first event with a plurality of correlation rules in order to identify one of the plurality of correlation rules that corresponds to the first event; selecting one of the correlation rules in response to the comparing; in response to selecting the correlation rule, retrieving an external data filtering predicate from the selected correlation rule, wherein the external data filtering predicate identifies external data in which to retrieve; retrieving the external data based upon the external data filtering predicate; determining whether the external data meets the external data filtering predicate; in response to determining that the external data meets the external data filtering predicate, retrieving a trigger condition from the selected correlation rule, wherein the trigger condition includes a correlation pattern that corresponds to the first event and a second event; detecting that the second event occurred; in response to detecting that the second event occurred, retrieving a correlation conclusion from the selected correlation rule; and performing the correlation conclusion action, wherein the correlation conclusion action includes modifying the external data.