CLIAMS:We claim:
1. A method for monitoring performance of applications for an entity, the method comprising:
retrieving, by a monitoring system, performance information associated with an application from one or more sources;
analyzing, by the monitoring system, performance of the application using the retrieved performance information;
identifying, by the monitoring system, one or more entity variables affecting the performance of the application from the analyzed performance of the application; and
determining, by the monitoring system, at least one of trends of the performance of the application, deviations in the performance of the application, performance data related to the performance of the application, and prediction data related to predicted performance of the application based on the identification for monitoring the performance of application for the entity.
2. The method as claimed in claim 1 further comprising generating by the monitoring system, at least one report corresponding to the at least one of the trends, the deviations, the performance data and the prediction data.

3. The method as claimed in claim 1, wherein the performance information comprises information related to at least one of functioning of the application, performance of an operating system, performance of servers utilized towards running of the application, performance of one or more databases associated with the application, historical performance associated with the application, and performance associated with the application based on user inputs.

4. The method as claimed in claim 1, wherein the performance information is retrieved at predefined time intervals.

5. The method as claimed in claim 1, wherein analyzing the performance of the application is performed using at least one of transaction level analysis, application level analysis, operating system analysis, server based analysis, and database level analysis.

6. The method as claimed in claims 2 and 5 further comprising providing, by the monitoring system, at least one of the analyzed performance of the application and the at least one report in one or more visual formats on a display unit associated with the monitoring system.

7. The method as claimed in claim 1, wherein determining by the monitoring system, the at least one of trends, the deviations, the performance data and the prediction data depends on version of the application being used.

8. The method as claimed in claim 7, wherein determining by the monitoring system, the at least one of trends, the deviations, the performance data and the prediction data comprising comparing the analyzed performance of the application with a predefined performance data of corresponding application.

9. The method as claimed in claims 8, wherein the at least one of trends, the deviations, the performance data and the prediction data is highlighted in the at least one report based on the comparison.

10. A monitoring system for monitoring performance of applications for an entity, comprising:
a processor;
a memory communicatively coupled to the processor, wherein the memory stores processor-executable instructions, which, on execution, cause the processor to:
retrieve performance information associated with an application from one or more sources;
analyze performance of the application using the retrieved performance information;
identify one or more entity variables affecting the performance of the application from the analyzed performance of the application; and
determine at least one of trends of the performance of the application, deviations in the performance of the application, performance data related to the performance of the application, and prediction data related to predicted performance of the application based on the identification for monitoring the performance of application for the entity.
11. The monitoring system as claimed in claim 10, wherein the processor is further configured to generate at least one report corresponding to the at least one of the trends, the deviations, the performance data and the prediction data.

12. The monitoring system as claimed in claim 10, wherein the performance information comprises information related to at least one of functioning of the application, performance of an operating system, performance of servers utilized towards running of the application, performance of one or more databases associated with the application, historical performance associated with the application, and performance associated with the application based on user inputs.

13. The monitoring system as claimed in claim 10, wherein the performance information is retrieved at predefined time intervals.

14. The monitoring system as claimed in claim 10, wherein analyzing the performance of the application is performed using at least one of transaction level analysis, application level analysis, operating system analysis, server based analysis, and database level analysis.

15. The monitoring system as claimed in claims 11 and 14, wherein the processor is further configured to provide at least one of the analyzed performance of the application and the at least one report in one or more visual formats on a display unit associated with the monitoring system.

16. The monitoring system as claimed in claim 10, wherein determining the at least one of trends, the deviations, the performance data and the prediction data depends on version of the application being used.

17. The monitoring system as claimed in claim 16, wherein determining the at least one of trends, the deviations, the performance data and the prediction data comprising comparing the analyzed performance of the application with a predefined performance data of corresponding application.

18. The monitoring system as claimed in claims 17, wherein the at least one of trends, the deviations, the performance data and the prediction data is highlighted in the at least one report based on the comparison.

19. A non-transitory computer readable medium including instructions stored thereon that when processed by a processor cause a monitoring system for monitoring performance of applications for an entity by performing acts of:
retrieving performance information associated with an application from one or more sources;
analyzing performance of the application using the retrieved performance information;
identifying one or more entity variables affecting the performance of the application from the analyzed performance of the application; and
determining at least one of trends of the performance of the application, deviations in the performance of the application, performance data related to the performance of the application, and prediction data related to predicted performance of the application based on the identification for monitoring the performance of application for the entity.

Dated this 30th day of June, 2015

SHWETHA A CHIMALGI
OF K & S PARTNERS
AGENT FOR THE APPLICANT
,TagSPECI:TECHNICAL FIELD
The present subject matter is related, in general to information technology and systems management and more particularly, but not exclusively to a monitoring system and method for monitoring performance of applications for an entity.