What are Literal Value Parameters and how can they be helpful with Reports?

Literal Value Parameters allow the retention and storage of the formatting settings made for row and column headers, subtotal, grand total rows to ensure consistency and ease of maintenance across your report set.  Update and get “perfect” the formatting for one report, save the formatting setting script into a literal value parameter and then you can reuse that parameter to drive formatting of all of your other reports!  New executive arrives pushing a different color scheme? No problem!  Just update the parameter for the new color once and ALL the reports that reference that parameter are automatically updated!