What is OLAP?
OnLine Analytical Processing
It is the technology behind many Business Intelligence (BI) applications. OLAP is a powerful technology for data discovery, including capabilities for limitless report viewing, complex analytical calculations, and predictive “what if” scenario (budget, forecast) planning.
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Excel is Not a one Stop Shop for your Data Needs
Excel is everywhere and it has proven to be a valuable resource to every company across the globe. The problem is that many companies are using spreadsheets as their main line of communication internally. Excel is great at displaying all of the raw data you could possibly dream of, just ask any Data Analyst, who eats, sleeps and dreams of never-ending spreadsheets.
28% of a Data Analyst’s Time is Spent on Data Prep
As stated by James Haight, “At Blue Hill, we recently published a benchmark report in which we made the case that dedicated data preparation solutions can produce significant efficiency gains over traditional methods such as custom scripts or Microsoft Excel.”
OLAP and Excel
Excel reports are just not cutting in today’s world of even larger and more complex organizations. Thankfully, there is a solution that not only gives companies the capability to access large amounts of data at the speed in which there is no “waiting around” time, but it enhances the every day use of Excel. Let’s take a look at how this is possible.
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OLAP and BI Technology
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The Importance of Planning and Forecasting in BI
From PARIS Technologies
The budgeting and forecasting process for most organizations is long and tedious and occurs on an annual basis, at least. Companies try to do it more often to improve accuracy and aim to ultimately implement a procedure for continuous planning, rolling forecasts, and driver-based planning.
Unlike any other business process, budgeting and forecasting is unique because it is forward thinking. Business processes like accounting, inventory tracking, invoicing, shipping, etc. are based on actual events from the past and present.
This is a fundamental difference as it also defines how the data from these processes are managed. Essentially, actual events are captured as transactions in ERPs, supply chain systems, invoicing and accounting systems, etc., and data related to it is effectively stored in its databases. On the other hand, budgets and forecasts typically reside in spreadsheets where aggregate data is entered by several people in the organization.
OLAP Resources
Downloads
OLAP 101
This ebook offers context for newbies to OLAP technology. Learn where OLAP came from and how it developed into the Business Intelligence technology we know today.
OLAP Timeline
Learn about the history of OLAP technology with this comprehensive inforgraphic
OLAP Terms
Learn all the terms you need to start your OLAP journey.