In an Excel Cube Formula report a CUBEVALUE function may sometimes legitimately return no data for that intersection in the database (that product was not sold in that region during that time period). A calculation in the worksheet that refers to the blank CUBEVALUE cell involving +, -, *, / and some other calculations will likely return a #VALUE error. This occurs because the apparently blank CUBEVALUE cell is actually returning a zero-length text value, which causes many numerical calculations to fail. Wrapping your CUBEVALUE functions with IFERROR() that returns zero on error is one way to fix the problem. But there is a somewhat more elegant approach for most situations, that uses a little-known Excel function, N().
The function tool tip describes N as:
Converts non-number value to a number, dates to serial numbers, TRUE to 1, anything else to 0 (zero).
Depending on how many downstream calculations you have pointing to your CUBEVALUE functions you can decide if it is easier to wrap the CUBEVALUE functions in N functions or (if there are a small number of downstream calculations) wrap the components of the cell calculations that reference a CUBEVALUE function. Watch this 3 minute video
for more explanation.