Programs that monitor/analyze/ control real world events as they take place are known as real-time software. Elements of real-time software involve a data gathering component that collects and formats information from an exterior environment an analysis component that changes information as needed by the application a control / output component that responds to the external environment so that real-time response (typically ranging from 1 millisecond to 1 minute) can be maintained. It should be noted that the word "real-time" is different from "interactive" or timesharing". A real-time system must respond in strict time limits. The response time of an interactive (or time-sharing) system can generally be exceeded without unsuccessful results.