Hyperion Brings OLAP to ChannelPoint

• 05/16/2000

Major AS/400 OLAP provider Hyperion (Sunnyvale, Calif.) has joined forces with ChannelPoint Inc. (Colorado Springs, Colo.), a provider of Internet, B2B solutions for enabling e-commerce in the global insurance industry.

Under terms of the agreement, the two companies will combine Hyperion’s OLAP (online analytical processing) technology with ChannelPoint’s B2B exchange platform technology for insurance carriers and distributors.

“With a highly-scalable platform for sophisticated business analysis applications specifically designed to handle large volumes of Internet-based transactions among thousands of concurrent users, Hyperion Essbase OLAP server will empower our customers to turn massive amounts of data into action overnight,” says Frederick Rook, Ph.D., executive VP of product development and operations at ChannelPoint.

By integrating Hyperion Essbase OLAP server into its solutions, ChannelPoint will be able to provide its customers with a scalable and Web-enabled platform for analysis, reporting and metrics. This will enable insurance carriers and brokerages and other ChannelPoint customers to gain insights into electronic market transactions through the presentation of quotes, sales and enrollment/submission metrics.

“As the market for online trading exchanges continues to explode, these marketplaces are generating huge volumes of transaction data that need to be easily accessed and analyzed for rapid decision making,” says Steve Fioretti, VP of marketing at Hyperion. “By working with e-business leaders such as ChannelPoint, we are executing on our aggressive strategy to help organizations understand and optimize the interactions between buyers and sellers, and ultimately increase their profitability within these B2B marketplaces.”

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