What is OLAP?

OLAP is an acronym for On Line Analytical Processing. OLAP performs multidimensional analysis of business data and provides the capability for complex calculations, trend analysis, and sophisticated data modeling. It is quickly becoming the fundamental foundation for Intelligent Solutions including Business Performance Management, Planning, Budgeting, Forecasting, Financial Reporting, Analysis, Simulation Models, Knowledge Discovery, and Data Warehouse Reporting. OLAP enables end-users to perform ad hoc analysis of data in multiple dimensions, thereby providing the insight and understanding they need for better decision making.