One of the key values of SAP Business Suite powered by SAP HANA are accelerated analytical capabilities. SAP HANA Live is our strategic solution for operational reporting for SAP Business Suite. SAP HANA Live provides flexible real-time operational reporting to quickly answer ad-hoc business questions for better and faster decisions. It is generally available since August 13.
Customers who might hesitate to migrate their SAP Business Suite completely to SAP HANA before they can use SAP HANA Live can use SAP HANA Live side-by-side on an SAP HANA Appliance and take advantage of the new SAP HANA Live rapid-deployment solution!
For details you can refer to this Comprehensive documentation
In addition, check out Thomas Fleckenstein’s blog post discussing SAP HANA Live.