Hive is considered as the "Hadoop Data Warehouse", so indeed you can create fact and dimensional tables.
Here is a doc giving an introduction on that: http://www.ibm.com/developerworks/library/bd-hivewarehouse/
If you are new to Hive, I recommend you also to start your journey by downloading the Hortonworks Sandbox and looking at the tutorials we have:
http://hortonworks.com/hadoop-tutorial/loading-data-into-the-hortonworks-sandbox/
http://hortonworks.com/apache/hive/#tutorials