Abstract- Today’s enterprises are operating in a complex and volatile business environment. To address this situation, enterprises endeavor to realize horizontal and vertical integration of enterprise processes (i.e., business and manufacturing processes) leading to a real-time enterprise. Research has been carried out in integrating data generated from automation devices in (milli) seconds and transactional data from business applications, referring to long time horizons (e.g., days). However, this integrated data is not used extensively for online control of enterprise processes. Therefore to overcome this issue, a process model is presented for identification and assimilation of knowledge. This process model comprises four steps: (i) analysis and (re-) design of enterprise processes to be controlled, (ii) creation of enterprise data model and data flow diagrams for automation devices and business applications, (iii) (offline) knowledge identification based on knowledge discovery in databases process, and (iv) online monitoring and control of enterprise processes using complex event processing. The envisaged process model is a prerequisite for implementation of IT-framework used for online monitoring and control of enterprise processes. Both, the process model and the corresponding IT-framework have been implemented and validated in a casting enterprise.