Drilling

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Is what you do when you move from looking at one view of data to another. Typically you do this while using a business intelligence application like Cognos or Business Objects.

Drill Down. Is an analytic action that you do in order to present a more detailed perspective. It means to move from summary information to detailed data by focusing in on some piece of data. How far you can Drill down depends on the granularity of the data held. Can also be referred to as drill though.

Drill Across. Means you are drilling across reports to get the data. In this case you are jumping or navigating from one report to other. Typically this is data analysis across dimensions.