Data Latency: Is the time delay experienced when data is sent from one point to another. Why? because not all signals travel at the same speed. It also can be seen as the time duration to make the data ready for analysis which is basically the time where the data is being extracted, transformed and cleansed.
Where does it come from?
Business Intelligence is basically where these techniques come from, it is used in analyzing business data.
It is one of three latencies that impact the speed of decision making:
Why is it used?
The goal of the business in having Data Latency is to minimize the time from the business event to a corrective action or notification being initiated. This can be reduced by the type of device being used at the time of event.
Bank of America wants to reduce the time from which a customer becomes overdrawn in there account to the time the customer is being notified. By having Data Latency then it would help reduce error because by the time the customer receives a notice in the mail and gets a chance to fix the problem it is already time wasted. Now customers can get instant alerts about their accounts and are able to get balances through not only the mail but online and ATM's.
What it really comes down to is feeding data faster into the database in order to shorten the latencies for potential customer, suppliers, buyers to have more opportunity. By doing so it will minimize the time between a query and the results arriving at the screen.
There are three categories which can break down Data Latency a little more: