1) Immediate react to traffic drops.
2)Chase trendy content for immediate community engagement
3)Plugging in to important discussions
One thing that would work as well is knowing your audience during a live feed. If your feed is picking up momentum in a certain part of the world maybe taylor it to that, or if it is starting to drop in viewership you can immediately react and make it more engaging via social networking or Twitter comments or questions.
Along with 2012 came many more upgrades to Google Analytics. You can get a quick overview of the other new features here.