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reasons for a price decline can be serious; lower earnings or estimates are predicted, credit ratings are lowered, or a possible lawsuit or tax problem has developed. The reason for a price decline might not be so serious: market correction, profit taking, employee stock distribution, or no newsrelated reason at all. Whatever the reason for a stock price move, it can be worthwhile to find out why it is moving before investing. Information about a stock in question can be obtained from the news media, the Internet, or by calling the company directly. Calling the company might be difficult if hundreds of other investors are trying to do the same thing. Often calling the stockbroker or checking a news service on a computer will provide the answer. Learning why a stock is declining in price can enable the investor to form a strategy of buy, hold, or sell.

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An aggregate navigation capability eliminates the need for someone who is writing a query to choose between the base star and one or more aggregates. Tools provide this capability in different ways, and in different parts of the architecture. Aggregate navigators can open a host of additional benefits as well.

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As you learned earlier in this chapter, the presence of aggregates requires that a decision be made each time a query is written: which star to use. This can be confusing for end users. Some data warehouse teams choose not to make aggregates accessible to end users, as depicted in Figure 15-3. However, this means that users who create their own reports will not obtain any performance advantage from the aggregates. Aggregate navigation is a generic term that describes the process of choosing from among the base star and one or more aggregates. Software products or features that perform this service are often called aggregate navigators, although product-specific terminology is sometimes used as well.

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But there is absolutely no way that stock options are the best incentive for every single corporation in America and for every single executive in vast quantities Volcker: We never would have had these excesses in executive compensation in my view, except for the growing popularity of stock options People did not think they were giving away all that much But when you have the greatest boom in the stock market in all of history, what they thought was very large and generous became grotesque Delves: It s gotten to absurd proportions Another interesting factor is when I assess the value of an option using the Black-Scholes (option valuation) formula It used to be an option was worth 035 times the exercise price Today it s 05 times the exercise price The reason is because the volatility of the market has gone up.

Selling of heavily institutionally owned stock could occur in a strong up market. Sometimes even a fundamentally sound company that has satisfactory earnings growth and is 50 to 60 percent owned by institutions can experience a sell-off in a market rally. If the stock is not participating in the rally and shows light volume, with few buyers or sellers, some institutions become nervous and start to sell. Financial markets are tightening

An aggregate navigation function may be embedded in one of several components of the architecture, including the reporting tool, the database, or some intermediary element. Implementations vary, but the basic principle is the same: aggregate navigators automatically redirect queries to aggregates when appropriate. Someone writing a query does not need to know that aggregates exist, and does not need to check whether an aggregate is suitable for their query. The concept of aggregate navigation is illustrated in Figure 15-4. Two logical views of the data warehouse schema are depicted. One, known to end users and applications, consists only of the base order_facts star. The other, known only to the aggregate navigator, includes additional information about the aggregates. In the diagram, a query is written to retrieve order_dollars by product for January 2009. Unaware of the presence of aggregates, the user has written an SQL statement to fetch data from the order_facts star. This SQL is labeled base SQL. The aggregate navigator, fully aware of the available aggregates, rewrites this query to take advantage of an aggregate table. The resulting aggregate-aware SQL is used to fetch the data, which is returned to the user. TiP An aggregate navigation function makes aggregates invisible to front-end applications. Queries and reports can be developed without any awareness of underlying aggregates, yet still receive a performance benefit.

Base SQL SELECT product, sum (order_dollars) FROM day, product, order_facts WHERE . day.month = January . .

Aggregate Aware SQL SELECT product, sum (order_dollars) FROM month, product, order_facts_agg WHERE . month.month = January . .

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