Generate Time Data option under Quick Launch helps the user to generate the Time data so that it can be used for the creation of Time based Attribute Views.

When you click Generate Time Data, you will be provided with two options

Gregorian: Mainly the data will be generated based on From and To years along with the granularity (Hour, Minute, Second, Day, Month) mentioned.
Fiscal: In this case, the time data will be generated based on the variant defined (some companies may use their own time period).
Standard tables T005T, T005U, T009 and T009B in SAP HANA are required if you go for FISCAL type.

Related questions