Online
analytical processing (OLAP) is a technology for multidimensional
analysis of business data. OLAP tools perform complex calculations, data
discovery, trend analysis, and data modeling. It is the foundation for
business applications such as analysis, planning, financial reporting,
simulation models, business performance management, budgeting,
forecasting, and knowledge discovery. OLAP enables ad hoc analysis of
data in multiple dimensions, thereby providing insight for making better
business decisions. OLAP systems are categorized into relational OLAP
(ROLAP), multidimensional OLAP (MOLAP), and hybrid OLAP (HOLAP). OLAP
software combines the benefits of relational tables and multidimensional
business data modeling in real-time. It maintains a constant connection
with back-end systems and delivers real-time reports/analytics in excel
and other tools such as dashboards and query tools.
Presently,
commoditization and consolidation of multiple technologies is a major
trend in the market. Hence, the need for OLAP and business intelligence
is rising along with customer relationship management (CRM) and
enterprise performance measurement (EPM) solutions. OLAP is mostly
integrated within Business Intelligence (BI) platforms, while online
analytical processing, reporting, querying, dashboards, data
visualization, and data exploration are considered as separate
categories within BI.
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The
demand for BI platforms from enterprise software providers, such as
Microsoft Corporation, SAP SE, and Oracle Corporation, is more rather
than independent OLAP tools. Most independent BI vendors are likely to
be absorbed into industry-specific enterprise software solutions during
the forecast period. Hence, the demand for standalone OLAP tools is
expected to reduce. OLAP takes a long time to perform business analysis.
Hence, in-memory OLAP is the latest technology trend in online
analytical processing market. In-memory OLAP technology helps improve
overall performance and analysis and as it operates within the memory,
the time required for analysis is reduced significantly. The online
analytical processing market is dominated by a few established players.
These players acquire small players entering the online analytical
processing market. In-memory OLAP is projected to create opportunities
for small players and during the forecast period. Leading players, such
as IBM Corporation, have offer in-memory online analytical processing
platforms. IBM Cognos has introduced TM1, an in-memory OLAP 64-bit
architecture platform.
The
global online analytical processing market can be segmented based on
type, solution type, organization size, end-use industry, and region. In
terms of type, the online analytical processing market can be
classified into ROLAP, MOLAP, HOLAP, and others. The MOLAP segment
accounts for a dominant share of the online analytical processing
market. Based on solution type, the market can be bifurcated into
integrated and standalone. The integrated segment is anticipated to
continue to dominate the online analytical processing market between
2018 and 2026. In terms of organization size, the online analytical
processing market can be segregated into small & medium enterprises
(SMEs) and large enterprises. Based on end-use industry, the online
analytical processing market can be categorized into Banking, Financial
Services, and Insurance (BFSI), retail, IT & telecom, manufacturing,
health care, and others.
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Based
on region, the global online analytical processing market can be
categorized into North America, Asia Pacific, Middle East & Africa,
South America, and Europe. The market in Asia Pacific is fueled by the
increase in adoption of OLAP in enterprise software by a large number of
SMEs in the region.
Key
players operating in the global online analytical processing market
include IBM Corporation, Oracle Corporation, MicroStrategy Incorporated,
Microsoft Corporation, SAP SE, Jedox AG, Pentaho Corporation
(Mondrian), Apache Software Foundation (Apache Kylin), icCube Software
llc, Hypercube Consulting PTE LTD, and DataBrewery (Cubes). These
players focus on the application needs of buyers and strategically
develop products. The market is fragmented and established companies are
engaging in mergers and acquisitions to gain additional capabilities
and market share.
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