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Ride The Information Tidal Wave With An OLAP Solution
Modern technology has created an information tidal wave. Will you ride the wave? Or will you be wiped out by it? If you don't know the answer, you are probably missing the wave.
Contemporary business is producing ever-increasing amounts of data. This data comes from transactions with customers. It comes from events created during internal business processes. It comes from informal data not maintained in centrally managed databases, but which is nonetheless integral to comprehensive analysis. The data explosion is compounded each year as new, disparate collection systems are deployed.
Companies overwhelmed by the information tidal wave are increasingly deploying multi-dimensional analysis techniques. There are two primary reasons why these companies are using Business Intelligence and especially OLAP technology: 1) to better understand their customers; and, 2) to gain insight on how business processes can be improved to effectively support their needs.
Analysts naturally view the business in a multi-dimensional manner. For example, an analyst may need to look at revenue for sales to customers, by product, by region, over time. OLAP provides a framework to organize data in a model that resembles the analyst's understanding of the business. This enables the analyst to understand, navigate and manipulate the information easily and more intuitively than they can with traditional relationship databases.
An OLAP server is ideally suited to handle complex, cross-dimensional calculations, which is important to the analyst relying on derived data. This allows for storage of pre-calculated data at numerous granular and hierarchical intersections, ensuring quick query response times.
Companies using OLAP respond more quickly to market changes. They are able to rapidly analyze trends and correlations pertinent to their business operations. This understanding enables them to adapt their products and processes quickly and frequently. Simply put: they have the insight to make products suitable and convenient for specific target customer groups or individuals.
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