Introduction: Real-time business intelligence is the use of analytical and other data

processing tools to give businesses access to the most up-to-date, relevant information and
visualizations. More than anything, this up-to-the-minute information will help companies
to make smarter choices and better explain their operations.
It is becoming increasingly apparent that the speed at which we generate new data will not
slow away any time soon. With millions of sources and touchpoints, most companies
generate gigabytes of data every minute, yet our data comprehension rate cannot be
managed. To get the most out of the data, organizations need to evaluate it as soon as it is
created—when it can provide the most immediate and applicable insight. Unlike
conventional models that look at historical data pattern, real-time analysis focuses on
interpreting information as it happens to help make quicker, better choices.

Importance of real time analysis for Organisations

Different sectors where real time analysis can be utilized.

 Customer Relationship Management Suites (CRMs) will use real-time data to deliver
better support to customers. This involves improved interaction by tailoring programs.
 Logistics companies can better understand their supply chains and workflows as they
grow. This makes it possible to make better decisions in the event of an emergency
(how to best alter the route for quicker delivery) or simply to build more effective
chains
 Inventory managers will see their stocks fall and grow as they do, helping them to make
smarter decisions on which goods to order. By combining them with historical patterns,
they can also construct predictive models for automating time-consuming tasks.
 Manufacturers can collect data from machines and production chains in real time and
see how they work and their condition. This helps them both to increase performance
and productivity and to fix any maintenance problems before they become a full-blown
emergency.
 Risk analysts may take advantage of incoming data to constantly adjust their risk
models and make better calls for insurance, loans, and a number of other financial
decisions.