Cost of Losing Information: A Framework for Information Management Planning
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(1)Overview: Business in the real world requires that information be accessible in real time. But what does real time really mean? Real-time is usually associated with speed - a real-time system must be able to process information quickly and as events actually occur in order to respond in a timely way. Real-time doesn’t actually mean fast, it means fast enough. What is fast enough for real-time response to one event, say a pilot’s routine request for the status of some subsystem is woefully inadequate for another, for example the need to take evasive action to avoid collision with another plane.
