Hello @Saiteja_1225 ,
In AEP, Event means something that happens or occurrence at a specific point of time that often linked to the identity of an individual profile. Each event is uniquely identified with time series.
AJO as two events. Unitary and Business events.
Unitary event: linked to a specific profile and represent actions or behaviors performed by or associated with that individual, such as a purchase, website visit, or reaching a loyalty milestone. unitary events can be either rule-based or system-generated.
Business event: doesn't linked to a specific profile such as product coming back in stock, a flight cancellation, or a news update. Business events are always rule-based.
check the documentation for more information:
https://experienceleague.adobe.com/en/docs/journey-optimizer/using/configure-journeys/events-journey...
Thanks
AJODev