i) online analytical processing
On-line analytical processing. Modern database applications, such as market analysis and financial forecasting, require access to large databases for the support of queries which can rapidly produce aggregate data. Such applications are frequently called analytical on-line Processing applications or OLAP for short. OLAP systems use multi-dimensional data structures to store data and relationships. OLAP comprises the dynamic synthesis, analysis and consolidation of large volumes of multi-dimensional data.
ii) Data mining
Data mining. To gain benefit from a data warehouse, the data patterns resident in the large data sets characteristic of such applications need to be extracted. As the size of a data warehouse grows the more difficult it is to extract such data using the conventional means of query and analysis. Data mining involves the use of automatic algorithms to extract such data. Data mining comprises the process of extracting hidden patterns from large databases and using it to make decisions critical to some organization.
iii) What is the term of OLAP and where this may be used.
- On-Line Analytical processing application.
- It is a technology that supports complex analytical processing to rapidly produce aggregate data from large databases (data warehouses).
- An Architecture that supports operations such as consolidation, drilling down and pivoting. For example, OLAP is used in market analysis and financial forecasting.