Benefits of OLAP Cubes
Used in computing, OLAP or online analytical processing cubes are used for quickly answering analytical queries. OLAP cubes are a part of a broader business intelligence category that also encompasses data mining and relational reporting. Common OLAP cubes applications include management reporting, marketing and sales reporting among others. Discussed further below are advantages of OLAP cubes.
1. Offer quicker analysis
An important advantage of OLAP cubes is that they enhance the speed that an organization can investigate large data amounts. This is critical business tool in the current competitive industry. The OLAP cubes can easily uncover relationships, identify trends and offer numerous perspectives regarding an organization’s performance. All these can be attained with only a few seconds.
2. Great reporting tool
OLAP cubes are normally used by an organization for the reporting advantage that they offer. In fact, to really extend the advantages of these OLAP cubes in an organization, you require a good reporting tool. This reporting tool enables the organization to leverage data directly from the cubes and offer scalability for important business intelligence that it delivers to managers and employees in all departments.
3. Improves decision making
Through enabling the employees within an organization to view the analysis got from the OLAP cubes, better decisions can be made and this allows the company to become more competitive. Financial planners and analysts can attain better visibility concerning financial performance, thereby improve reporting. Furthermore, OLAP cubes enable operation managers to make good decisions regarding asset utilization so as to locate cost savings opportunities.
OLAP cubes are flexible and users can easily view their business data using several reporting tools such as Microsoft Excel. It offers enhanced reporting flexibility via highly customized and rich reports.
Provided OLAP cubes are used in the correct place, they have no shortcomings. They essentially allow users to dissect information in different dimensions.