1. A system for managing configuration at a realtime event server comprising: a computer including a processor and computer readable storage medium; a realtime event server, executing on the computer, which operates on data received as event streams, wherein the realtime event server includes an application that operates on the data in the event streams, wherein the application includes one or more configurable components therein, and wherein each of the configurable components is associated with a configuration listener, and includes one or more classes, each said class further including lifecycle methods for updating each said component with a dynamic configuration, the lifecycle methods including a prepare lifecycle method, an activate lifecycle method and a rollback lifecycle method, and a configuration system that is adapted to retrieve the dynamic configuration from a storage, supply the dynamic configuration, via the configuration listener, to the each said component, and map the dynamic configuration to the one or more classes; and wherein the configuration system calls, via the configuration listener, the lifecycle methods in the each said component to prepare to make the updates, activate the updates without restarting the component, and roll back the updates if necessary.