Dear Babu,
offline means that the analysis is based on the last risk analysis (for example if you schedule once per day you will get this information in your report). Online means you are checking on-time in the systems (current situation) and system considers real time information. You can choose "Offline Data" in risk analysis screen to run with offline data.
With parameter 1027 you can enable or disable offline risk analysis.
Regards,
Alessandro
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