Real-time data (RTD) is information that is delivered immediately after collection.
[3] Macroeconomist Glenn D. Rudebusch defined real-time analysis as 'the use of sequential information sets that were actually available as history unfolded.
'[4] Macroeconomist Athanasios Orphanides has argued that economic policy rules may have very different effects when based on error-prone real-time data (as they inevitably are in reality) than they would if policy makers followed the same rules but had more accurate data available.
[5] In order to better understand the accuracy of economic data and its effects on economic decisions, some economic organizations, such as the Federal Reserve Bank of St. Louis, Federal Reserve Bank of Philadelphia and the Euro-Area Business Cycle Network (EABCN), have made databases available that contain both real-time data and subsequent revised estimates of the same data.
[6] To support these needs, new strategies and technologies, such Druid have arisen and are quickly evolving.