Q: If you have a short time frame for data collection and need an answer immediately, you likely will have to use historical data.
or
Q: You’ll probably have to utilize previous data if you’re short on time and need an answer right now.
- True
- False
Explanation: This is not always the case. It’s possible that using historical data isn’t the best choice if you have a limited amount of time to gather data and you need an answer right away. The term “historical data” refers to information that has been gathered over some time, and therefore may not be enough for delivering responses in real time or right away.
In circumstances when time is of the essence, you would normally depend on data sources that provide information in real-time or near real-time to get the most recent relevant information. Live data streams, sensors, and other sources that give rapid insights might be included in this category.
Although historical data is useful for analyzing trends, recognizing patterns, and gaining knowledge of long-term patterns, it may not be the ideal option when information that is both urgent and real-time is required.
