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Issue: After upgrading my BI version from SP3 to SP4, all the users who are on lower version of Java (6.0.55) seeing that error above while creating new report or even when try to modify the report. (Refreshing the report - no issue)

Fix: Upgraded the Java version from lower version to 7.0.55 or more will fix this issue.

After installing the new version java disable the current java version as below

Start --> ControlPanel --> Java --> Java (Tab)--> View --> (uncheck) and restart your Browser.

Better to reboot after the above changes