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ODBC

ODBC stands for Open Data Base Connectivity, which is a connection method to data sources.

When connecting a tool or application to a database, a data source, also called a Database Source Name (DSN), using an SQL driver or other driver if connecting to other database type, needs to be set up. Then, the application is connected to the database using this DSN.

OLEDB

OLEDB stands for Object Linking and Embedding Database. It is an application programming interface designed by Microsoft for accessing different types of data stores in a uniform manner.

It is a newer and improved successor to ODBC.

OLEDB is the successor to ODBC, a set of software components that allow a "front end interface" such as a graphical user interface (GUI) based on VB, C++, Access, and others to connect with a back end such as SQL Server, Oracle, DB2, mySQL, etc.

OLEDB components in many cases offer improved performance over the older ODBC.

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Q: What is the different between an ODBC and an OLE-DB connection?
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