The technology commonly used for real-time data processing includes stream processing engines such as Apache Kafka, Apache Flink, and Apache Storm. These frameworks enable the analysis of continuous streams of data, allowing organizations to make immediate, data-driven decisions. Real-time processing is crucial for applications like fraud detection, stock trading, and monitoring social media trends. By harnessing these technologies, businesses can quickly respond to changes in data and gain valuable insights, thereby enhancing operational efficiency and customer satisfaction.