Data does not have to be processed after entry before running reports or entering data

Description

Immediate report generation after data entry refers to the ability of a Corporate Performance Management (CPM) software to instantly process and incorporate new data without further processing required. This capability enables real-time reporting and ensures relevant and timely output.

Example Use Case

Scenario: A global corporation uses CPM software to monitor its diverse financial operations. Hundreds of department managers are routinely making updates to their numbers for the rolling forecast. Management requires a consolidated report each evening with no delays.

Solution: With the instant report generation feature, data does not need to undergo any additional processing once it is entered into the system. As soon as a forecast is entered, it is reflected in the reports. This allows management to access the most recent financial reports at any given moment.

Considerations

This functionality will be difficult for vendors using OLAP to deliver, as new data in those databases generally requires a recalculation of the cubes. The benefits of that are speed when running reports and doing analysis - however, a process called aggregation must occur to make it possible. That aggregation can take anywhere from a minute to a day depending on the amount of data and dimensions.

Products that do not have to aggregate data are often using a relational database or other database technology that is not pre-calculated. They use the application itself to calculate the values, meaning that it is slower when loading, but always current.

If it is critically important that the instant data is entered, it is now available in updated reports, avoid OLAP products. If you're okay with waiting a period of time (this varies) before accessing aggregated data, OLAP will be fine and may be preferable.

Questions to Ask a Vendor

• Data Availability: Does your product require an aggregation process or is data available on-demand?
• Performance: How does your product perform when calculating everything on-demand? Can you show us a large dataset with several on-demand calculations?
• Exceptions: Can your product do both and give us the best of both worlds?