When and Where to use Table Functions

Table-valued functions in finaquant .net libraries

When and Where to use Table Functions

Postby finaquant » 29 Nov 2013, 15:29

Software Product:
finaquant® calcs – Calculation Engine based on Table Functions (.NET)

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Table Functions can be compared to Matrix Functions that we know from linear algebra, with the difference that input and output arguments are (in-memory) data tables instead of matrices.

Primary advantage and added value: Analytical computations that are too complex for excel sheets can easily be implemented using Table Functions, without time-consuming database programming (SQL, stored procedures etc.); easier, faster, economical..

Calculation Engine can read input tables from different databases, apply the configured validations and table functions, and write resultant output tables to desired datastores. Periodic calculations like monthly plans can also be automated.

finaquant® calcs can be used for following purposes:
  • Implementing analytical cause-effect relationships (function trees) in business and science (like product profitability based on historical sales, production costs, other costs and wages) without traditional database programming (SQL, stored procedures etc.)
  • Once the analytical relationship (function tree) is implemented, all sorts of quantitative analysis can be accomplished by programmatically varying the input values to generate some graphical reports for decision support, like forecasts and estimations, scenario analysis, simulations and optimizations.

finaquant® calcs can't be used for following purposes:
  • Daily (operational) business transactions like data registration or updates, and queries; this is a software for analytical purposes only.
  • Reporting: Presenting sections and views of existing data with well formatted tables and graphs. There are specialized reporting software for this purpose, like Crystal Reports or Business Objects.
  • Data Mining: Automated detection of analytical/causal relationships, classifications, correlation analysis.. Again, there are specialized software in the market for this purpose.

How to detect if you might need finaquant® calcs:
  • You need to implement some analytical computations that are too complex for excel sheets.
  • You find no other choice to implement these computations other than time-consuming database programming.
  • The already implemented analytical computations (with any business application, or database programming) are not atomic, independent or flexible enough for scenario analysis and simulation.
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