Is your JRE version greater than 1.5 because I faced similar issue but when I reinstall/upgrade the JRE 1.6 then everything went smooth now I'm able to access the report through web intelligence.
Thanks a lot for your reply.
My JRE is also 1.5, however can you please let me know what are the considerations if we upgrade to JRE 1.6 with respect to Analytics.
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Nothing much I downloaded the latest version of Java SDK which automatically installs the JRE, so tried this method which solved my problem hope you can also try the same.