Connecting PerformancePoint 2010 site with Dashboard Designer throws error

Recently I had a problem with connecting to a PerformancePoint 2010 site using Dashboard Designer.

I created a new site in SharePoint 2010 using the "Business Intelligence Center" template and started the Dashboard Designer. When I tried to connect to the site, the Dashboard Designer failed to connect and throws the following error : "The URL is not available, does not reference a SharePoint site, or you do not have permission to connect".

When a System Administrator (working for our customer) checked the Event Logs (Administrative Tools | Event Viewer | Windows Logs | Application), he saw the following message : "Login failed for user : domain\username". After some research, it appears that the Service Account under which the PerformancePoint Service runs, did not have sufficient permissions.

The System Administrator executed the following commands in the SharePoint 2010 Management Shell to fix this problem:

$w = Get-SPWebApplication("Web application name")

$w.GrantAccessToProcessIdentity("domain\username") 

For more information about how to grant a managed account access to the content databases where PerformancePoint data will be stored, read this article on Microsoft Technet.