Our primary focus is to analyze this oscillatory activity—mostly from the eyes‐closed resting state, the commonest condition applied during EEG acquisition. From these recordings, it is possible to extract a near endless set of EEG features based on oscillatory frequency, oscillatory power, the temporal dynamics of oscillations, interactions across oscillatory frequencies, and spatial interactions (connectivity). In the upcoming sections, we will highlight the strategic selection of EEG variables. Oscillatory responses to events and event‐related potentials (ERPs) in task data are another great source of clinical biomarkers (Duncan et al., 2009). Most notably, ERP components such as the P300 obtained in the oddball task, the mismatch negativity, and the steady‐state responses are among the most relevant for clinical research. While ERPs are not reviewed in the current perspective, they will be targeted in future work by our consortium.