1. A method for dynamically processing an event including a dataset that is streamed from a source to a sink via nodes, the method comprising: recording, at a respective node, the event including the dataset in a memory of the respective node using a data model; and annotating the event by adding or updating one or more attributes associated with the event in the data model based on analyzing the dataset, the data model being extensible to add additional attributes to the event by a subsequent node configured to further process the dataset as the event is streamed from the source to the sink, wherein said annotating includes specifying, based on the dataset, one or more fields of the event in the data model, wherein the dataset includes at least one of: a timestamp, a source machine, a body, or a priority.