Give three examples of business processes or operations that would benefit significantly from having detailed real-time or near real-time data and identify the benefits.

Business Processes/Operations that would benefit from having detailed real-time or near real-time data are:

Air Tower/Radar Monitoring OperationsHualage/Logistics OperationsForex/Stock Trading Transactions

Explanation:

Lower Risk: Real-time data in operations lowers risk, minimizes room for errors are decisions for course correction are made instantly as the data occur.Improved Efficiency: to make decisions on the spot based on real data mean to cut down on time spent before decisions are made. Hence, increased efficiency.Lower costs: Real-time collection and use of data imply automated systems. An Automated system allows for instant decisions without requiring the accumulation of paper trails. In most cases, real-time data also provide uncommon insights into the deep operations of the company.

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