Lets get some basic idea about Hyperion first....
History of Hyperion:
The company was founded by the name IMRS in
1981, and its business was to develop and ship analytical
financial applications for PC platforms.Its products beat so
many costly mainframe products due to their quality that it changed its name to
Hyperion Software Corporation in 1995. "Hyperion" is
the name of the first portable IBM PC compatible computer in 1980s. In 1998,
Hyperion Software merged with Arbor Software Corporation, which developed and
marketed Essbase OLAP server. The merge was called the "combination of the
leading OLAP technology company with the leading OLAP applications
company." The combined company adopted the name Hyperion
Solutions Corporation.
Hyperion Solutions Corporation acquired a
series of companies from 1999 to 2007:
- 1999 - Sapling Corporation (Enterprise Performance Management applications);
- 2003 - Brio Technology (Brio Performance Suite) and The Alcar Group (Strategic Finance);
- 2005 - Razza Solutions (Master Data Management);
- 2006 - UpStream Software (Financial Data Quality Management);
- 2007 - Decisioneering (Crystal Ball, CB Predictor).
Hyperion Solutions Corporation was acquired by
Oracle on 19th April 2007.
What is Hyperion.?
Hyperion is a Business Intelligence (BI) and Business Performance Management (BPM )
Tool.. It has applications for Planning, consolidation, scorecarding,
reporting, dashboards, Analysis, Workspace, Master Data Management and
Foundation
Business intelligence (BI)
mainly refers to computer-based techniques used in
identifying, extracting and analysing business data, such as sales
revenue by products and/or departments, or by associated costs and
incomes
Business process management (BPM)
is a management approach focused on aligning all aspects of an
organization with the wants and needs of clients. It promotes business
effectiveness and efficiency while striving for innovation, flexibility,
and integration with technology
It makes a use of ESSBASE as its back end. We will see in depth about what is ESSBase and how does it differ from traditional Database.
What is ESSBASE and how does it work.?
ESSBase i.e. (Extended Spread Sheet DataBASE) is a multidimensional database management system (MDBMS)
that provides a multidimensional database platform upon which to build
analytic applications i.e. in ESSBase we make use of OLAP (Online
Analytical Processing) .
As the name suggests it Enhances the features of the Excel Spread Sheet .
MDBMS
(Multi Data Base Management System ) is a feature by which we can view
the data in different dimensions i.e. we can view the data in 3D or 4D
depending on the customer/client needs.
ESSBASE makes the most use of OLAP i.e. OnLine Analytical Processing.
OLAP
(online analytical processing) is computer processing that enables a
user to easily and selectively extract and view data from different
points of view. For example, a user can request that data be analyzed to
display a spreadsheet showing all of a company's beach ball products
sold in Florida in the month of July, compare revenue figures with those
for the same products in September, and then see a comparison of other
product sales in Florida in the same time period. To facilitate this
kind of analysis, OLAP data is stored in a multidimensional database.
For more Details on OLAP refer: http://en.wikipedia.org/wiki/Online_analytical_processing
Data Warehouse a collection of data designed
to support management decision making. Data warehouses contain a wide
variety of data that present a coherent picture of business conditions
at a single point in time.
Development
of a data warehouse includes development of systems to extract data
from operating systems plus installation of a warehousedatabase system that provides managers flexible access to the data.
History of Planning:
Hyperion first entered the budgeting and planning space in
1994 by acquiring Pillar Corporation and its products, the target product being
Pillar, an integrated application built for forecasting, budgeting, and analysis.
Pillar is a proven budgeting solution that supports decentralized decision
making, and allows users to execute a range of functions including cost-center
and activity-based budgeting, sales forecasting, and compensation planning.
After Pillar had gained a strong foot-hold, Hyperion began development on a new budgeting and planning application, this application to be built on top of their newly acquired multi-dimensional database Essbase, the industry leading OLAP server. Hyperion Planning is a centralized, Microsoft Excel and web-based solution that allows companies to develop and observe plans and forecasts, converting thoughts into goals and targets.
In addition to the principal Hyperion Planning application, Hyperion offers two complementary planning applications in (1) Capital Asset Planning, and (2) Workforce Planning. Capital Asset Planning offers users the ability to automate planning for capital assets and capital asset expenses such as depreciation, maintenance, and insurance. Workforce planning offers users a module to plan for enterprise headcount, salary, and compensation.
After Pillar had gained a strong foot-hold, Hyperion began development on a new budgeting and planning application, this application to be built on top of their newly acquired multi-dimensional database Essbase, the industry leading OLAP server. Hyperion Planning is a centralized, Microsoft Excel and web-based solution that allows companies to develop and observe plans and forecasts, converting thoughts into goals and targets.
In addition to the principal Hyperion Planning application, Hyperion offers two complementary planning applications in (1) Capital Asset Planning, and (2) Workforce Planning. Capital Asset Planning offers users the ability to automate planning for capital assets and capital asset expenses such as depreciation, maintenance, and insurance. Workforce planning offers users a module to plan for enterprise headcount, salary, and compensation.
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