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What you need to do in Project Server 2007 is create a data analysis view.
Log into PWA as a Project Server administrator.
Select the Server Settings option from the quick launch menu (left side of the page towards the bottom).
Select the Manage Views option in the Look And Feel section.
Click the New View link on the view table menu bar.
Pull down the View Type list and select the Data Analysis option.
Now you will need to specify the name of your data analysis server and the cube you want to use...
There is a page in TechNet with the title "Create Data Analysis views" that may also be of some assistance. The URL is:
http://technet.microsoft.com/en-us/library/cc197306(TechNet.10).aspx
Does this answer your question?
Bob Segrest, PMP
Microsoft Project Blackbelt