We live in real time, minute by minute. News is no longer delayed by days or even hours; it is streamed in real time. We bank online and check our real-time balances. We book flights with real-time visibility of seat availability. Sales patterns change over time and from place to place. Currency valuations shift and alter profit margins. Balancing on this shifting terrain, business managers are expected to focus on business analytics and make informed business decisions. Real-time business intelligence ensures accurate data flows across the enterprise so that organizations can make quick decisions on pricing, shelving, service and product mix, based on the latest information.
According to Dr. Richard Hackathorn, creator of the Time-Value Curve, “the value of data is directly proportionate to how fast a business can react to it. In other words, a corporation loses money every time it delays getting information into the hands of decision-makers.”
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