What best defines online transaction processing (OLTP)?

Online transaction processing (OLTP) is best defined as the capturing of transaction and event information using technology. This definition highlights the real-time processing and data entry capabilities essential for businesses that require immediate and efficient management of transactions.

OLTP systems are designed to handle a large number of short online transactions, where data is entered, processed, and then stored in a database almost instantaneously. This process is critical for applications such as e-commerce, banking, and point-of-sale systems, where accurate and up-to-date information is essential for operational efficiency and customer satisfaction.

The other options refer to different aspects of data management and analysis. While analyzing historical data contributes to business intelligence, it is not the focus of OLTP, which centers on real-time transaction processing. Managing long-term strategic decisions falls under a different category, often related to decision support systems. Finally, storing and archiving past transaction data pertains more to data warehousing or backup systems, which serve distinct purposes from OLTP. Thus, option A encapsulates the essence of online transaction processing accurately.