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What is Real Time Analytics

Glossary definition

What is Real Time Analytics

Real-time analytics

Real-time analytics refers to the use of data as soon as it comes into a system- where a user senses this as immediate or nearly immediate. In Enterprise Resource Planning(ERP) software, real-time analytics can be used to improve the quality of operational decisions and the way businesses apply them to their processes.

What is real-time reporting?

In today’s fast-paced business world, companies often find themselves faced with tight time constraints and ambitious project deadlines. Real-time reporting offers instantly actionable insights, enabling businesses to assess and respond to data virtually the moment it is processed. This capability is especially valuable in situations that call for rapid decision-making or communication, such as customer service. By delivering a continuous and up-to-date stream of information, real-time reporting empowers businesses to remain competitive – without needing to sacrifice time, quality, or efficiency.

What is near real-time reporting?

As the term suggests, “near real-time reporting” processes data at a rate that approaches, but does not equal, that of real-time reporting. In contrast to real-time reporting, which is virtually instantaneous, near real-time reporting tools work in terms of minutes rather than seconds. In combination with Complete Event Processing (CEP), which is geared toward the identification of patterns, near real-time reporting may be ideal for producing operational intelligence.

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