Final answer:
Time lag is a distinguishing factor between batch (processes data in groups at scheduled intervals with significant delay) and real-time systems (processes data immediately with minimal delay). Examples include overnight bank transaction processing for batch systems and anti-lock braking for real-time systems. The choice between these systems depends on the necessity for immediate processing and the nature of the application.
Step-by-step explanation:
Time lag is a key characteristic that differentiates between batch and real-time systems. Batch systems process data in groups or batches at scheduled intervals or at a user's convenience. There is a significant time lag between the collection of data inputs and the processing. On the other hand, real-time systems process data as soon as it is inputted, with minimal delay, intended to support operations that require immediate feedback and actions.
An example of a batch system is the processing of bank transactions overnight. Transactions throughout the day are collected and processed in a batch during off-hours, when there is less demand on the system. A real-time system example is an anti-lock braking system (ABS) in a car, which continuously monitors speed and traction and makes immediate adjustments to prevent lock-ups during braking.
Selecting between these systems depends on the specific requirements of the application. Batch systems are practical when immediate data processing is not necessary, and it's more efficient to process large volumes of data all at once. Real-time systems are essential for applications where timing is critical, such as in medical life support systems or automated trading where delays could result in significant problems or lost opportunities.