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Excel as a source for Webi report

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Hi,

 

I need to create a report based on excel file, I know that, in rich client its possible to create a report on excel as source,

 

is it possible to create a direct report on excel file(With out creating universe)

 

 

Will it work, if i place the excel file in bo repository. and then use the file path to create a bo report

 

 

environment: BO 4.0


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