You can create Extended Events sessions to diagnose SQL Server tracing, which enables you to resolve issues such as the following:
· Find your most expensive queries
· Find root causes of latch contention
· Find a query that is blocking other queries
· Troubleshoot excessive CPU usage caused by query recompilation
· Troubleshoot deadlocks
You can create an Extended Events session by using the Query Editor, or you can create a session in Object Explorer. In Object Explorer, Extended Events provides two user interfaces you can use to create, modify, and view event session data — a wizard that guides you through the event session creation process, and a New Session UI that provides more advanced configuration options.
If you have installed SQL Server 2012 Management studio then you can view extended event session mentioned in screen. You can use XE (extended event) for older versions of sql servers using SSMS 2012 or add in to install for 2008 R2 Management studio.