1. A method on an information processing system for modifying at least one data warehouse schema based on detected changes in an associated observation model, the method comprising: determining if at least one new observation model has been created; determining if at least one existing observation model is associated with the new observation model; in response to the existing observation model being associated with the new observation model, identifying at least one changed attribute by comparing the new observation model and the existing observation model, wherein the at least one changed attribute is at least one or more of measure metrics of a monitoring context, dimension metrics of a monitoring context, and monitoring contexts, wherein the identifying further comprises identifying that one or more existing dimension metrics associated with the existing monitoring context have been removed from the substantially similar monitoring context associated with the new observation model, wherein a monitoring context generates at least one of a set of measure metrics and a set of dimension metrics for a given observation model; and updating a set of files associated with the existing observation model to reflect the changed attribute between the new observation model and the existing observation model, wherein the updating further comprises updating at least one existing fact table associated with the existing monitoring context so that at least one pointer entry is marked as inactive, the pointer entry being associated with the existing dimension metric that has been removed from the substantially similar monitoring context associated with the new observation model.