Tag: real time

Real time data is up to the minute reporting. Each time a new item is sold, the system is updated and the users can see the information. Using the banking system as an example – it was common for a withdrawal to be posted real time (all system would have the most up to date information). And a deposit to be batched processed at a scheduled time. So your account would reflect all the withdrawals without the deposits.

A change in times: before digital banking this was a game people played with their money. Paychecks would have to be deposited before bill were paid so ensure the amount stayed in a positive balance. Banks would make their money off of the interested accumulated while the cash was in their own account.