1. A method for effecting smart sensing, the method comprising: making a series of sensor measurements constituting a data stream in real time; and continually determining, in real time, useful collections of values relating to said sensor measurements; said continually determining being performed so as to recognize and assimilate new information, corroborate previous information, and identify inconsistencies in said data stream; said continually determining including classifying each current said sensor measurement as being either recognized or unrecognized in the context of a permanent knowledge base; wherein if the current said sensor measurement is classified as being recognized, then said continually determining further includes determining whether an outcome associated with the recognized current said sensor measurement is consistent with an outcome of at least one other said sensor measurement that exists in said permanent knowledge base and that constitutes a basis for said recognition; wherein if said outcome associated with the recognized current said sensor measurement is consistent with an outcome of at least one other said sensor measurement that exists in said permanent knowledge base and that constitutes a basis for said recognition, then said continually determining further includes assimilating, into said permanent knowledge base, information including the recognized current said sensor measurement and at least one characteristic of the recognized current said sensor measurement; wherein if the current said sensor measurement is classified as being unrecognized, then said continually determining further includes categorizing the unrecognized current said sensor measurement in a hierarchal structure in a temporary knowledge base, associating the unrecognized current said sensor measurement with an outcome, and determining whether the unrecognized current said sensor measurement is subsequently corroborated by at least one future said sensor measurement; wherein if the unrecognized current said sensor measurement is determined to be corroborated by at least one future said sensor measurement, then said continually determining further includes assimilating, into said permanent knowledge base, information including the corroborated current said sensor measurement and at least one characteristic of the corroborated current said sensor measurement; and wherein if the current said sensor measurement is classified as being unrecognized, then: the unrecognized current said sensor measurement is made during a current event run; said at least one future said sensor measurement is made during at least one future said event run.