Cloud analytics has become necessary in every significant industry, and it will become a common tool in the rest of the industries soon. OLAP is one of the tools used for analyzing information in multiple database systems simultaneously.
There are several tools for online analytics, such as Google Cloud Platform Analytics, which also utilize OLAP software. It’s not just Google; several other IT companies use OLAP for their analytics and research.
If you are unfamiliar with all these terms or tools, this article does a great job explaining these technical terms. You need to know that OLAP is one of the best analytical tools for cloud analytics.
There is cutthroat competition among IT firms to understand the customers’ minds and customize their services.
The new age of technology gives tech firms the ability to calculate and decide what’s good for their customers. The present mantra is, ‘who has more data wins the game,’ also called business intelligence (BI).
Today, OLAP and BI are connected in so many ways, many businesses have built their business intelligence solutions through OLAP. Tools based on this software help businesses get maximum advantage in the market.
What Are The Advantages Of OLAP?
Businesses have benefited from this software a lot, and in the coming years,
The AI and VR technology combined with business intelligence will make service customizability to its maximum level.
The advantages of OLAP can be listed as below:
- It is a platform for every type of business, i.e., it has the functions of budgeting, planning, reporting, and analysis.
- Data/information and calculations are continuous in an OLAP cube. This one benefits organizations very much.
- It creates and analyzes different “What if” situations quickly. It gives the management the right ideas and suggestions for decision-making.
- One can easily search an OLAP database for unique or broad terms.
- It provides building blocks for business modeling, performance reporting, and data mining tools.
- It allows the users to slice and dice cube data by several dimensions, filters, and measures.
- Times series can be analyzed with OLAP software.
- It is a powerful online analytical process system that provides quicker response times.
These advantages are the reason why even Google cloud platform analytics also uses OLAP software in their system.
What Are The Types Of OLAP Systems Available For Businesses?
Different types of OLAP Systems For Businesses provide various tools/functions to analyze and give results. Though common software can do multiple functions, it can be modified and programmed to do complex processes.
The OLAP Hierarchical Structures Are Listed Below
- Multidimensional OLAP (MOLAP)
- Relational OLAP (ROLAP)
- Desktop OLAP (DOLAP)
- Hybrid Online Analytical Processing (HOLAP)
- Web OLAP (WOLAP)
- Spatial OLAP
- Mobile OLAP
What’s The Future For OLAP?
OLAP systems are the future of data and analytics. Analytical decision-making (online) technology will transform businesses entirely, supported by Augmented OLAP. And it will significantly expand the ability to analyze and comprehend information/data in the future.
Organizations that understand the real power of these systems are successfully managing their marketing and financial planning for the future to tackle all kinds of hindrances and new (expected) changes.
With the assistance of AI and Big Data, OLAP will help businesses succeed without any trial and error methods or doing a pilot run. The green signal from this system will be all you need to execute the plan effortlessly.