The response time of the data transmitted by the Kinect to the BeagleBoard came to around 4-5 seconds which was quite contrary to our expectations. By 'Response Time' we mean the 'time lag' between two samples of data transmitted by the Kinect to the BeagleBoard.
In order to solve this problem we tried running the same on the PandaBoard and Hurray! the problem got solved. Response time decreased to a few milliseconds. Though both have the 1Ghz processor but BeagleBoard has 512MB DDR RAM whereas PandaBoard has 1GB DDR2 RAM.