OLAP stands for Online Analytical Processing. The oltp database system is able to analyze the current database information of multiple systems. The main goal of OLAP services is data analysis rather than data processing.

OLTP stands for Online Transaction Processing. OLTP can manage the day-to-day affairs of any organization. The main goal of OLTP is data processing rather than data analysis.

Online Analytical Processing (OLAP)
Online Analytical Processing (OLAP) is a software tool for data analysis for business decision making. OLAP provides an environment to gain insights from databases retrieved from multiple database systems simultaneously.
OLAP example

Any kind of data warehouse system is an OLAP system. The purpose of the OLAP system is as follows.

Spotify analyzes users' songs to provide a personalized homepage of their songs and playlists.
Netflix movie recommendation system.
Advantages of OLAP Services

OLAP Services help with consistency and computation.
We can store planning, analysis and budget for business analysis in one platform.
OLAP services help in processing large volumes of data which helps in enterprise level business applications.
OLAP Services helps to apply security constraints to protect data.
OLAP services provide a multidimensional view of data, which helps to apply operations on the data in various ways.
Disadvantages of OLAP Services

OLAP services require professionals to process data due to its complex modeling process.
OLAP services are expensive to implement and maintain when the dataset is large.
For OLAP, data analysis can only be performed after the data is extracted and transformed, which causes delay to the system.
OLAP services are not efficient for decision making because it is updated periodically.