real time

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun The actual time in which a physical process under computer study or control occurs.
• noun The time required for a computer to solve a problem, measured from the time data are fed in to the time a solution is received.
• noun The timing or arrangement allowing a process, such as an exchange of remarks, to occur normally, as without delay or asynchronism.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun Used other than as an idiom: see real,‎ time.
• noun computing The time duration required by a computer system to complete a particular task

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun the actual time that it takes a process to occur
• noun (computer science) the time it takes for a process under computer control to occur