What Does Real-Time Analytics Mean?
Real-time analytics is a term used to refer to analytics that are able to be accessed as they come into a system. In general, the term analytics is used to define data patterns that provide meaning to a business or other entity, where analysts collect valuable information by sorting through and analyzing that data.
Techopedia Explains Real-Time Analytics
While the term real-time analytics implies practically instant access and use of analytical data, some experts provide a more concrete time frame for what constitutes real-time analytics, such as suggesting that real-time analytics involves data used within one minute of it being entered into the system. A common example of real-time analytics is a system where managers or others can remotely view order information that’s updated as soon as an order is made or processed. By staying connected to an IT architecture, these users will be able to see the orders represented as they happen, therefore tracking orders in real time.
Other examples of real-time analytics would be any continually updated or refreshed results about user events by customer, such as page views, website navigation, shopping cart use, or any other kind of online or digital activity. These kinds of data can be extremely important to businesses that want to conduct dynamic analysis and reporting in order to quickly respond to trends in user behavior.