Real-time means 'near-real-time' in practice
		• The is latency between (a) the actual state change, (b) the reflection of that state change in data in one or more systems of record and (c) the availability of the changed data to decision-makers • Is there always latency?? Will latency become insignificant with faster processors and faster communications? • Is latency a problem? What if the total lag time from receipt of payment to information-available- for-decision is 2+ days? Sometimes.