Intercomparison of the Version-6 and Version-7 TMPA precipitation products over high and low latitudes basins with independent gauge networks: Is the newer version better in both real-time and post-real-time analysis for water resources and hydrologic extremes?

•We intercompared Version-6 and -7 TMPA estimates by independent gauge networks.•The Version-7 TMPA generally represents a substantial improvement over Version-6.•The incorporation of SSMIS in Version-7 provides more high-quality microwave data.•The Version-7 real-time estimates still have much room to improve at high latitude.•The new Version7 TMPA estimates still underestimate the rainfall of typhoon events.