An important topic for data-driven businesses today is the addition of real-time capabilities to multiple parts of the operations. Corporate leadership is recognizing that the ability to respond to customer (and all stakeholder) needs in a timely manner is a great way to add competitive advantage. Interestingly, the definition of “timely” is getting narrower, and it is not necessarily defined by companies, but by their customers and stakeholders. This means that expectations around instant gratification are continuing to grow, and businesses must be able to answer the demand.
Despite the maxim “good things come to those who wait,” most of us find that we would prefer not to wait, and in many cases, we demand that we do not wait. With the many alternatives that we have as consumers, it is very easy to avoid an unnecessary wait and instead work with another business.