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Benefits of OLAP

The ability to have coherent, relevant, and timely information is the reason OLAP has gained in popularity. OLAP systems can help reveal evasive inconsistencies and trends in data that might not have been seen before. OLAP users can intuitively search data that has been consolidated and summarized within the OLAP structure. In addition, Olap tools allow for tasks such as sales forecasting, asset analysis, resource planning, budgeting, and risk assessment. OLAP systems also provide the following benefits:

(i)    fast access, calculations, and summaries of an organization’s data
(ii)    support for multiple user access and multiple queries
(iii)    the ability to handle multiple hierarchies and levels of data
(iv)     the ability to pre summarize and consolidate data for faster query and reporting functions
(v)    the ability to expand the number of dimensions and levels of data as a business grows

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