In my case, the relationship between input and output events is that output
events are generated out of some rules based on input events. Essentially,
output events correspond to specific patterns / sequences of input events.
You can think of output events as detecting certain anomalies or abnormal
conditions. So I guess we are more in the second case you mention where the
Flink TM can be regarded as a generator and hence using the processing time
makes sense.

Indeed, I am using both the processing time and the event time watermark
value at the moment of generating the output events. I think both convey
useful information. In particular, the processing time looks as the logical
timestamp for the output events. However, although that would be an
exception, it might also happen that my flink app is processing old data at
some point. That is why I am also adding another timestamp with the current
event-time watermark value. This allows the consumer of the output events to
detect whether the output event corresponds to old data or not (by comparing
the difference between the processing time and event time timestamps, which
should in normal conditions be close to each other, except when processing
old data).

In the case of using both, what naming would you use for the two fields?
Something along the lines of event_time and processing_time seems to leak
implementation details of my app to the external services...



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