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Real-time analytics tools are the tools used to measure, collect and analyze data in real time. They not only help in gathering insights but also are used for conducting well-informed market and business research.
Real-time analytics tools enable organizations to make well-informed, more precise and faster decisions based on predefined logic. These tools further aid the data science teams to optimize, simulate and model based on various transactions and samples.
Real-time analytics tools allow organizations to act on data immediately, rather than having to wait for a batch to process. This results in faster response times, and can translate to advantages such as higher sales, better customer service and more efficient operations.