Not really, it depends on the context and is somewhat of a relative word (like "fast"). I personally interpret "real time" as "practically instant".
In the case of RT analytics, there's probably very small practical difference between 1s and 30s: it's typically dwarfed by the reaction time of the observer (what advantage is there in reacting 29s seconds sooner?).
In the case of something like a stock trading tool, 29s could make a huge difference and it's not practically the same as knowing instantly.
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<30 seconds is considered real-time? At the company I used to work for, all clients around the world had to get the same data in <1 second.
Does there exist a definition of "real-time" that can be used across industries?
Not really, it depends on the context and is somewhat of a relative word (like "fast"). I personally interpret "real time" as "practically instant".
In the case of RT analytics, there's probably very small practical difference between 1s and 30s: it's typically dwarfed by the reaction time of the observer (what advantage is there in reacting 29s seconds sooner?).
In the case of something like a stock trading tool, 29s could make a huge difference and it's not practically the same as knowing instantly.