The future of data management lies in the fusion of database technologies. Olation has pioneered this by joining relational and multidimensional database technologies (OLTP and OLAP) to serve as a one-stop solution for all data management needs. OLAP or Online Analytical Processing is an approach to answering multi-dimensional analytical queries swiftly. OLAP operation tools such as consolidation (roll-up), drill-down, and slicing and dicing, enable users to analyze multidimensional data interactively from multiple perspectives.
OLTP or Online Transaction Processing, on the other hand, refers to a class of systems that facilitate and manage transaction-oriented applications, typically for data entry and retrieval transaction processing. Online Transaction Processing thrives on two key benefits: simplicity and efficiency, and hence helps businesses by reducing paper trails—creating faster, more accurate forecasts for revenues and expenses.
Olation integrates these two technologies while maintaining other end-user applications such as Excel, Access, PowerPoint, web browsers, SAP Business One as its dynamic front-end. It also quickly connects with any Open Database Connectivity (ODBC) Compliant database such as Microsoft SQL. Olation’s ability to integrate with various applications as its dynamic front end makes it simple to use and adapt to within any established business model.
With these technologies combined, users can now have access to live data updates from transactions, reports, while utilizing OLAP analytical tools to gain actionable insights. Users are better equipped to plan and forecast more accurately with access to real-time data just as transactions come through creating a powerful live, data-based environment.
[Original Post 12/13/2012] Blog contributed by- Hellen Oti-Yeboah