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DAX stands for Data Analytics Accelerator. It is a specialized coprocessor in Oracle's latest SPARC M7 processor chip. It was originally conceived by Oracle's combined Software and Hardware teams as a way of tremendously speeding up queries, which it does wonderfully at upto 170 Billion rows/second. However, the facility, which is a set of 32 engines per chip, is also equally useful in the Big Data and Machine Learning analytic world where algorithms can take advantage of its fast scanning and querying facility, along with virtually memory speed decompression to speed up challenging Analytic algorithms. Apache Spark Cube building, e.g., speeds up by about 6x. And many more.
You can read more about it in this white paper titled "What is Sparc M7 DAX".
This paper also discusses possible applications and algorithms that can benefit from this tremendous processing capability.
I would also recommend that you watch this quick 5-6 minute animation video on the same topic.
Best of all, this capability works independent of the processor cores, thus you can do both analytics and core processing (as in business logic) in parallel.