Real-time is a term used to describe a system or process that occurs in the present moment. It is often used to refer to computer systems that update and display information as it happens, such as streaming video or audio. Real-time can also be used to describe systems that respond quickly to input, such as a stock market trading system. The term 'LIVE' is often used interchangeably with real-time, as it implies that the data is being updated in the present moment.