Real-time data (RTD) is information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Real-time data is often used for navigation or tracking. Such data is usually processed using real-time computing although it can also be stored for later or off-line

data analysis Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, en ...

. Real-time data is not the same as dynamic data. Real-time data can be dynamic (e.g. a variable indicating current location) or static (e.g. a fresh log entry indicating location at a specific time).

In economics

Real-time economic data, and other official statistics, are often based on preliminary estimates, and therefore are frequently adjusted as better estimates become available. These later adjusted data are called " revised data". The terms real-time economic data and real-time economic analysis were coined by Francis X. Diebold and Glenn D. Rudebusch. Macroeconomist Glenn D. Rudebusch defined real-time analysis as 'the use of sequential information sets that were actually available as history unfolded.' Macroeconomist Athanasios Orphanides has argued that economic policy rules may have very different effects when based on error-prone real-time data (as they inevitably are in reality) than they would if policy makers followed the same rules but had more accurate data available. In order to better understand the accuracy of economic data and its effects on economic decisions, some economic organizations, such as the Federal Reserve Bank of St. Louis,

Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia — also known as the Philadelphia Fed or the Philly Fed — headquartered at 10 Independence Mall in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers ...

and the Euro-Area Business Cycle Network (EABCN), have made databases available that contain both real-time data and subsequent revised estimates of the same data.

In auctions

Real-time bidding is programmatic real-time auctions that sell digital-ad impressions. Entities on both the buying and selling sides require almost instantaneous access to data in order to make decisions, forcing real-time data to the forefront of their needs. To support these needs, new strategies and technologies, such Druid have arisen and are quickly evolving.Lorica, B
Big Data and Advertising: In the trenches
4 August 2013

References

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External links

ALFRED: Archival Federal Reserve Economic Data
real-time data series at the Federal Reserve Bank of St. Louis
Real-time data set for macroeconomists
at the Federal Reserve Bank of Philadelphia
Real-time database of the EABCN
Real-time computing

In economics

In auctions

See also

References

External links