Blog
The Value of Real-Time
real-time
March 14, 2024
Why Real-Time Matters
A couple of weeks ago, I had plans to meet a friend at Starbucks. Rather than picking a specific time, he sent me a Google Maps link to his real-time location. This way, I could judge when to leave to meet him. As I monitored his progress, when he was just 8 miles away, I gathered my things and made my way to the coffee shop. Suddenly, he pinged me a text to say he had arrived, contradicting Google Maps, which still showed him a few miles away. Realising Google Maps wasn’t truly real-time, I found myself running late! Cue embarrassment as I rushed to buy the coffee and cake as a penance for my lateness.
This got me thinking into the reasons why real-time is important, inspiring me to jot down a few thoughts on the matter.
Criticality
The use of real-time data is often linked to the criticality of the task being performed. For example, in an aircraft cockpit, it would be disastrous for instruments like the altimeter or airspeed indicator to be delayed by even a second. Pilots need immediate information on how the aircraft is behaving to correct issues as they present themselves. Similarly, in a business scenario where inbound call handling is critical, individuals or teams responsible for managing it require real-time, accurate data on performance so adjustments can be made on the fly. The same data can also be shared among team members to understand their personal performance, alongside their relative performance to the group.
Specific functions
Real-time data is often combined with calling features to address specific use cases. For example, in retail customers may phone around several different suppliers for a high value item. If the call goes unanswered, it is imperative that the retailer returns the call as fast as possible. The time it takes the business to return the lost call is particularly important, especially when the caller has a compelling need for the product. For example, if your pet is sick and needs immediate attention, you will keep calling vet practices until one can provide an urgent appointment. If your business serves customers who require an immediate solution and won’t wait, you need real-time analytics to identify them and call back quickly.
Compliance
Many businesses must adhere to KPIs as part of their day-to-day operations. Whether it’s answering the phone within 5 seconds, or keeping the average call answer time below 30 seconds, the need for accurate data to prove the KPIs are being met is invaluable. Furthermore, when meeting the KPI can unlock payments running into five or six figures, the veracity of the data becomes paramount.
Data Integrity
When individuals view data dashboards, they will often assume the data feed is real-time and matching what they perceive to be happening at that moment. If the data is not real-time and does match the perception, it creates confusion and quite often mistrust in the dashboard itself. This is why many of Akixi’s customers present dashboards that blend real-time and historical data, providing users with a coherent view of the information.
