MANAGEMENT

Detailed explanation-1: -The basic definition of real-time data is that it is data that is not kept or stored, but is passed along to the end user as quickly as it is gathered.

Detailed explanation-2: -Real-time data (RTD) is information that is delivered immediately after collection. There is no delay in the timeliness of the information provided.

Detailed explanation-3: -Real-time analytics is the discipline that applies logic and mathematics to data to provide insights for making better decisions quickly. For some use cases, real time simply means the analytics is completed within a few seconds or minutes after the arrival of new data.

Detailed explanation-4: -Augmented analytics is a term used to describe the use of machine learning to automatically analyze data, then provide insights that humans can act on. It’s sometimes also referred to as “cognitive analytics” or “analytics 2.0.”

Detailed explanation-5: -Real-time processing requires a continual input, constant processing, and steady output of data. A great example of real-time processing is data streaming, radar systems, customer service systems, and bank ATMs, where immediate processing is crucial to make the system work properly.