During our usergroup meeting last week the topic of 'materialized views' in Oracle came up. I wasn't familiar with the term, but John looked it up for me (thanks John!).
Materialized Views in Oracle seem to differ in implementation, but accomplish much the same as Index Views in SQL Server.
More on Materialized Views:
http://en.wikipedia.org/wiki/Materialized_view
More on Indexed Views:
http://www.microsoft.com/technet/prodtechnol/sql/2005/impprfiv.mspx