OLAP or the online analytical processing is a very popular business intelligence system used in data storage and business reporting of the data which is stored in the databases of business houses.
It reports huge amount of queries by many users at the same time in many ways. OLAP is a tool used in resolving online queries and it performs solutions to many queries at the same time in a faster way. It is very popular in business analysts and business heads and the users, by using this system can retrieve the required data in a proper manner according to their requirements. OLAP mechanism was developed by slightly altering the term OLTP (online transaction processing) and it was initially known as crystal analysis professional. Due to the rapid advancement in information technology, OLAP has become even swifter and it is well capable to solve difficult queries in one-tenth of the time taken by other query processors and due to this, OLAP has become a significant contributor in the area of business intelligence.
The output of OLAP queries is displayed in pivotal structures and it deals with several types of queries. These types are MOLAP (multi dimensional OLAP), ROLAP (Relational OLAP), Hybrid OLAP (HOLAP), Desktop OLAP (DOLAP) and Real Time OLAP (RTOLAP). Business managers and analytics dealing with the large complex data use the features of this system in closely studying and manipulating the data using different paths. Among all the above mentioned types, MOLAP performs in a better way and is more popular because of its ability to store huge amounts of data with a strong indexing. MOLAP also consumes lesser storage space because the comprehensive storing capacity uses compression technology in comparison to another popular form ROLAP.
The structure of OLAP system is a versatile data cube which contains numerical measures & facts which are categorized by the verticals. Any variant of data report can be generated in a very quick time with this software and this mechanism enables the users in ensuring a smooth functioning and data management. OLAP helps in data analysis from many verticals of business, enables business managers in fetching complex data and business reports in time which further helps them in making vital strategic decisions. OLAP manages complex data analysis efficiently and presents the reports in simple formats. The system is greatly useful in delivering the desired results with accuracy and a higher speed.