Real-Time Data

Definition of Real-Time Data

Information that is delivered immediately after collection, allowing for instant decision-making.

Explanation of Real-Time Data

Real-time data refers to information that is collected, processed, and available for use almost instantaneously. This type of data is crucial for businesses that need to make timely decisions based on the most current information. For example, real-time data can be used by online retailers to monitor inventory levels, track customer behavior, and adjust marketing campaigns on the fly. In financial markets, traders rely on real-time data to make informed investment decisions. Real-time data is generated through various sources, such as sensors, social media feeds, transaction records, and website analytics. It is processed using advanced technologies like big data analytics, artificial intelligence, and machine learning. The ability to access and analyze real-time data enables businesses to respond quickly to changing conditions, optimize operations, and enhance customer experiences. By leveraging real-time data, organizations can stay competitive and agile in a fast-paced digital landscape.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.