What Are the Differences Between Data Mining and OLAP? When

question 52

Essay

What are the differences between data mining and OLAP? When would you advise a company to use OLAP?

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Definitions:

Work In Process

Inventory that includes goods partially through the production process but not yet complete.

Fixed Manufacturing Overhead

Indirect manufacturing costs that remain constant regardless of the level of production, such as rent, utilities, and salaries of managers.

Cost Of Goods Sold

The expenses directly related to the manufacturing of products a company sells, encompassing both materials and labor costs.

Materials Price Variance

The difference between the actual cost of materials and the expected (or standard) cost, used to control and manage costs.