How is this not part of ArcGIS, I am mystified.
Basically, exactly this. Have formulas like Excel that automatically keep a field updated. It could be as simple as summing two other attributes, or averaging, or something complex, involving geometry, etc.
So, basically Attribute Assistant. Except, easy to use. And also that continuously updates. From my understanding, Attribute Assistant only updates during an Edit session, drastically reducing usefulness.
Now, it would be nice for geometry attributes especially. For example, calculating Acres. I can never trust a field with measurements for something, if it is very, very important. Because I never know the last time it was calculated. (related thread about storing geoprocessing/field calculator lineage in the metadata would be useful to that end but even still...may not be current enough). So, you say, what about update frequency? What if it's SDE? I guess just let us have an 'update frequency' parameter. Problem solved.
Right? Esri - any plans?
Retrieving data ...