If a report does not use formatted cell values, query time can be reduced. An example is a Reporting Services report that does its own formatting and therefore would not use the formatted values from SSAS. By returning only the value of the cell and not its formatted value in MDX, you can achieve better queries performance, sometimes between 5-20%, depending on the size of the cell set. The default properties include FORMAT_STRING and FORMATTED_VALUE, and can be omitted by specifying a list of properties. An example is to add "cell properties VALUE" at the end of every query.
select [Measures].[Internet Sales Amount]
from [adventure works]
cell properties value
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I'm happy to see you happy to see you suggest the % improvement range as I hadn't tried to quantify that before. That was helpful.
I've blogged about cell properties in Reporting Services in a bit more depth, so the following may be of interest for some people: