Jon Diorio, the AdWords Product Manager declared on Google+ that some specific sets of data are receiving more frequent updates. Especially, geographic performance, search terms, and automatic placement stats, which are going to be updated after every 6 hours. Whereas, the majority sets of data like conversions, clicks, and impressions are updated within 3 hours time, other data were updated only once in a day.
Geographic performance, automatic placement stats and search terms used to be the part of data sets, where marketers would have to wait to check the results. Now, you can have the access of this data in as short as 6 hours of introducing a campaign with updates to be done in 6 hours thereafter.
This update is certainly an improvement, however, there are still some sets of data, which will be updated once in a day. It includes auction, impression share, and top movers.
As long as conversion data of Google Analytics, there is no change. Goals from Analytics are introduced daily and probably take 24-72 hours to be reflected in conversion stats.