SYMPTOM
When executing a report that has an existing cache, the report will still run against the warehouse and take a long time to execute. After the execution is completed, the cache file will be updated and will have no hit counts.
The cache exists and is viewable in the cache monitor in Strategy Desktop:

At the same time, the report will show "Report Cache Used: No" in the Report details.
CAUSE
The cache file size is larger than the Maximum RAM storage setting for caches; this is preventing the cache from being loaded into memory and being hit by running jobs.
It is possible to validate this on the cache monitor since the Status of the cache does not show the letter "L," this means the cache file is not loaded into memory. Also by comparing the cache size with the Maximum RAM usage setting for that project, it is possible to see the cache is larger than what the project allows.

ACTION
Increase the Maximum RAM usage for caches in the Project Configuration settings to allow the large cache to be loaded into memory.
KB8891