Steve Jones is skeptical:
To be fair, humans might do the same thing and over-react, but mostly we become hesitant with unexpected news. That slowness can be an asset. We often need time to think and come to a decision. Lots of our decisions aren’t always based on hard facts, and a lot of business isn’t necessarily fact driven either. We often put our thumb on the scales when making decisions because there isn’t a clear path based on just data.
Steve’s thrust is about AI but I want to riff on “real-time” in general. First, my standard rant: “real-time” has a specific meaning that people have abused over the years. Fighter pilots need real-time systems. The rest of it is “online.” For a hint as to the difference: if you’re okay waiting 100ms for a response due to network delays or whatever else, that’s not real-time.
Standard rant aside, “I need to see real-time data” is a common demand for data warehousing projects. I worked on a warehouse once where the business wanted up-to-the-minute data but our incoming data sources for cost and revenue information refreshed once a day per customer and intraday information was sketchy enough that it didn’t make sense to store in a warehouse. But when you probe people on how often they’ll look at the data, it turns out that hourly or daily loads make more sense based on the review cadence.
The question to ask is, how big is your OODA loop and is additional information really the limiting factor? Sometimes that answer can be yes, but generally there are other factors preventing action.