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Tips & Tricks for Using TM1 – Variance Analysis in IBM Cognos TM1

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This is a guest blog post by Revelwood’s Susan Musselman.

Did you know many companies find it beneficial to do a variance analysis to identify differences between the planned financial outcomes and the actual financial outcomes? Many clients prefer to store account balances in IBM Cognos TM1 using positive values unless the value is contra to the account. For example: even though revenue is a credit value in the General Ledger, it is shown as a positive number on a P&L report. Costs are also shown as positive and then subtracted from Revenue to get Gross Profit.

To get a variance amount, Budget is subtracted from Actual. This results in a correct variance for Revenue. For example: if budgeted revenue is $15,000 and actual Revenue is $20,000 then the variance would be a positive $5,000, which is correct because higher revenue is a good thing. However, if we use the same calculation for cost then the variance is backwards. For example:  if budgeted cost is $5,000 and actual cost is $8,000 then the difference calculates to positive $3,000. However, a higher cost is not good so the number should be displayed as a negative.

Learn how to conduct variance analysis in IBM Cognos TM1

One solution would be to use a different formula for every row on every variance report that is created. However, this solution would require a lot of manually created rules that will slow down your overall TM1 application. A better solution would be to create a generic rule that can calculate the correct variance based on an attribute. To do this, first create an attribute in the Account dimension and populate the value with a 1 or -1 for every account. You can populate the attribute via rule to avoid future maintenance to the model.

Here is an example of some attributes values (please note that the attribute is populated for all levels of elements, including consolidations):

Calculate variances in IBM Cognos TM1

Next, create an element in your version dimension called “variance”. You can then create a rule for the new version to calculate the variance.

Learn how to calculate variances in IBM Cognos TM1

This gives the correct results:

Learn an easy approach to calculating variances in IBM Cognos TM1

Now the variance element can be used in any report!

IBM Planning Analytics, which TM1 is the engine for,  is full of new features and functionality. Not sure where to start?  Our team here at Revelwood can help.  Contact us for more information at info@revelwood.com.  And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

Read more blog posts on Tips & Tricks for IBM Planning Analytics and IBM Cognos TM1:

Tips & Tricks for IBM Planning Analytics: Creating URLs for TM1 Websheets

Tips & Tricks for IBM Planning Analytics: Creating TM1/Planning Analytics Picklist Cubes

IBM Planning Analytics: Using the Full Power of MDX

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IBM Planning Analytics Tips & Tricks- Creating Dynamic, Attractive Views and Dashboards

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Did you know IBM Planning Analytics Workspace (PAW) allows you to create dynamic, attractive views and dashboards? With the vast number of stylistic options available, there are a few key tips that can be used to create a fluid user experience.

Use the “Caption” alias for dimension names.

The “Caption” alias can be modified for each dimension in the }DimensionAttributes cube. Once you’ve assigned a user-friendly name, or caption, to a dimension, this value will appear in your Planning Analytics Books in place of the dimension’s original name. The caption can then be updated at any point.

Use selector elements to ensure a uniform user experience.

Create selector elements when all users may not have access to all elements in the dimension. For instance, create an element in the department dimension called “Select a Department” and give everyone security to this new element. You can then set the new element as the starting point. When users open the dashboard, they will not see any data and will then be able to select elements based on their security rights.

Synchronize dimensions throughout the Book and individual Sheets.

Once you’ve created a new Book, you can synchronize the data using the “Synchronization scope” option in the Properties dropdown. The Properties button is located in the upper right-hand corner of the screen when you are in edit mode (image below). You have the choice to synchronize across the Book or Sheet, meaning an element selection can be carried across multiple visualizations to allow for uninterrupted data access.

For more information on Planning Analytics Workspace, refer to the IBM Planning Analytics 2.0.0 documentation.

IBM Planning Analytics is full of new features and functionality. Not sure where to start? Our team here at Revelwood can help. Contact us for more information at info@revelwood.com. And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

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Tips & Tricks for using IBM Planning Analytics – Creating TM1/Planning Analytics Picklist Cubes

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This is a guest blog post by Revelwood’s Shane Bethea.

Did you know Picklists can be used in TM1/Planning Analytics to allow your users to pick values from a predefined, non-changing list of values?  These can be setup as a static list of values, a subset of values from a specific dimension, or all elements within a specific dimension.

Picklists can be associated with a dimension in situations where the definition is always the same.  An example of this would be a Payroll model where you want users to assign each employee to a pre-defined list of job titles.

Picklists can also be created with more flexibility for situations where you want a fluctuating set of definitions.  For example, you may want to have a list of pay period start dates based on the pay method selected for that employee.  If the pay method is monthly then your list can include one set of dates whereas a bi-weekly pay method would entail a second set of dates.  This approach can be created with a Picklist cube.

To create a Picklist cube in TM1/Planning Analytics, simply right click on a cube where you want to have the Picklist and choose “Create Pick List Cube”.

The resulting Picklist cube is created with the name ‘}PickList_<CUBENAME>’.  The new cube will have the same dimensionality of the existing cube plus one extra dimension called }PickList.

Once created, rules can be written for the Picklist cube to determine what values are available in the list.  The example rule below will populate the Picklist value with one of three definitions based on the selected pay method.

Once the Picklist cube and rules have been set up in TM1/Planning Analytics, users will see a different set of dates for the Pay Period Start Date measure based on the method selected for each employee.  This is one example of creating a dynamic Picklist using Picklist cubes, but the possibilities are endless.

IBM Planning Analytics is full of new features and functionality. Not sure where to start?  Our team here at Revelwood can help.  Contact us for more information at info@revelwood.com.  And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

Interested in more tech tips for TM1 & IBM Planning Analytics? Check out these blog posts:

IBM Planning Analytics: Using the Full Power of MDX

Creating URLs for TM1 Websheets

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Technical Bulletin: End of Support Dates for IBM Cognos TM1 10.2.x

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IBM recently announced the official End of Support dates for two of the IBM Cognos TM1 10.2.x versions:

  • IBM Cognos TM1 10.2.0 will reach End of Support on 2018-09-30
  • IBM Cognos TM1 10.2.2 will reach End of Support on 2019-09-30

By now, most TM1 users are aware of IBM’s transition from IBM Cognos TM1 to IBM Planning Analytics. Planning Analytics contains the full functionality of TM1, including both Excel and Web interfaces, so the concept of migrating can be as simple as upgrading your TM1 version. Planning Analytics currently allows users to continue using both Perspectives and TM1 Web which gives you the opportunity to migrate in phases:

  • Existing Excel reports can use your current Perspectives approach and be migrated to PAx (Planning Analytics for Excel) at a later time
  • Existing Web reports can use your current TM1 Web approach and be migrated to PAw (Planning Analytics Workspace) at a later time

 Planning Analytics Migration Resources:

We’ve created multiple resources including on-demand webinars featuring product demonstrations and technical blog posts to help you understand the opportunity presented with this migration, plan your strategy and make the transition. Migrating from IBM Cognos TM1 to Planning Analytics is a much bigger opportunity than a standard upgrade or basic migration. While the underlying TM1 engine remains as powerful as ever, IBM has made significant changes to the product to improve the user and developer experience.

Do you have any questions about End of Support dates or migrating from TM1 to Planning Analytics? Contact John Pra Sisto at 201.984.3025 or jprasisto@revelwood.com for more information.

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Complex Modeling in IBM Cognos TM1 at New York Blood Center

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If you are looking for a great example of complex modeling in IBM Cognos TM1, look no further than the case study on New York Blood Center. Imagine having untold numbers of separate models in disparate systems – such as Excel and Access – all built for a single purpose, but that did not talk to each other? How could you answer simple questions about the data, let alone complex questions?

That’s the situation that New York Blood Center (NYBC) faced. NYBC is one of the largest independent, community-based blood centers in the country. In 2012 NYBC brought in a new CFO, Beth Gibson, who, in turn, brought in a new director of financial transformation a year later. Diane Arritt, who took on the role of Director of Finance Transformation, was charged with taking the old, manual, largely spreadsheet-based financial infrastructure and move to a single, sophisticated system.

Today, NYBC has a core set of TM1 models to store GL, billing, payroll, AR and AP data. From there, each model was then built out to support NYBC’s reporting and planning needs. Then we created a series of allocation models to allow for the proper distribution of overhead costs across all of NYBC’s reporting lines of businesses. We also created allocation models to allow NYBC to report on costs per unit related to collecting and distributing the blood products.

The TM1 system enables the organization to plan, model, allocate, report and manage the revenue and expense data faster, in more detail and more accurately than ever before. The overall impact of the new financial system is much larger than just the time savings, which is significant. With TM1, changes that previously took more than a day can be done in just minutes.

“Previously, it would have taken us at least three months to map general ledger accounts and accounting units into our processes to do the appropriate reporting for an acquisition,” said Diane Arritt, Director of Finance Transformation. “Now our team was able to produce combined financial results for management the first month we acquired the Community Blood Center of Greater Kansas City. We simply could not have done that without the hierarchies and flexibility of TM1.”

Read the full case study on how New York Blood Center transformed its financial operations with IBM Cognos TM1 by downloading it here.

Read more Revelwood client success stories:

Rayonier Makes Better use of Resources with IBM Cognos TM1

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IBM Planning Analytics: Using the full power of MDX

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Many of you know that MDX can be used in your current IBM Cognos TM1 environment to create dynamic subsets and row expansions, but did you know that MDX can also be used to create an entire view of data?

TM1’s initial use of MDX functionality was limited to manipulating one dimension at a time, but IBM Planning Analytics uses the full power of MDX via expressions called tuples and sets.  These expressions define intersections of data which result in a full data set view.

This functionality is built into PAx Explorations and eliminates the need for DBRW functions in your spreadsheet.  When you create a new exploration, Planning Analytics automatically creates an MDX expression that references the current data set.  You can see the expression by clicking on the MDX button within the Planning Analytics ribbon.

MDX in IBM Planning Analytics

After clicking on the button, the full MDX expression will appear.

Detailed MDX in IBM Planning Analytics

This expression can be modified to change the results that appear in the spreadsheet.  In the above example, the columns can be changed to show the subset called “2017Months” instead of using the current subset called “2016Months”.

IBM Planning Analytics gives you the full power of MDX expressions. Not sure where to start? There are plenty of resources online. Our team here at Revelwood can also train you on MDX. And stay tuned for more MDX tips and tricks on our blog and in upcoming newsletters!

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Introducing IBM Planning Analytics Local

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IBM Planning Analytics Local, the convergence of TM1 on-premise with Planning Analytics on the cloud is now available! This new release brings many of the great enhancements and performance improvements that IBM has been making in the cloud environment available to on-premise TM1 customers.

I recently hosted a webinar with Dan Bernatchez, our FPM practice leader and Chief Solutions Architect for TM1, to review the new features of the solution and provided a live demo of Planning Analytics Local.

One highlight of the webinar included Dan showcasing Planning Analytics Workspace, which is a completely transformed user experience. This new “face” of TM1 provides a rich, interactive workspace that is visual, intuitive, insightful, social and mobile.

Dan also explained how Planning Analytics Local uses hierarchies for deeper analysis of TM1 data. Essentially it turns attributes into virtual dimensions, saving RAM, increasing query performance and adding flexibility. This enables users to have smaller, faster cubes, to introduce hierarchies to queries as needed, and to do dimension versioning.

Since Planning Analytics Workspace is the one new component that comes at an additional cost, IBM is offering a special 75% discount for existing TM1 customers who purchase it before year-end 2016. For information on this pricing deal, contact me and I can help you.

This webinar was the first in a three-part series showcasing IBM Planning Analytics. Stay tuned for the dates and topics of the next two webinars coming in early 2017.

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Creating IBM Planning Analytics Workspace Content (Part 2)

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This blog is intended to continue and build upon the previous blog How to Create IBM Planning Analytics Workspace Content. In this blog, I will provide an overview on building the remaining content (second and third row of visualizations) in the Dashboard below.


Dashboards


Create or Open a Book

  • Open up Planning Analytics Workspace, create a new Book or open up an existing book.


Steps to Create Units by Month

  • Drag and Drop a view from the Revenue Cube onto your canvas (we are using Revelwood’s Big Apple demo database for these examples).
  • Update the View so the Rows are the Products and the Columns are the Months that you want to report on.
  • Click on the amounts in your view, and select ‘Edit the Title’ from the blue Toolbar above your View and type in ‘Units by Month (000’s)’. The results will look like the following:


Steps to Create Units by Region

  • Click on the amounts in your view, and select ‘Duplicate’ from the Toolbar.
  • Drag and Drop that view to the right of the first view.
  • Swap the Product Dimension with the Region dimension, so the Regions are on the Columns.
  • Edit the Title to be ‘Units by Region (000’s)’. The results will look like the following:


Steps to Create Gross Margin by Period

  • Navigate to the Applications Folder of Revelwood’s Big Apple demo database.
  • Select the ‘Gross Margin by Period’ report.
  • Drag and Drop that report below the Units by Month (000’s) view.
  • Align and Size it as required.
  • The results will look like the following:
  • Click the amounts in your Units by Region view and select ‘Change Visualization’ from the blue toolbar above your View and select ‘Column’.


The result will be:


Summary

We’ve walked through the steps to create a simple Dashboard that includes Cube Views, Visualizations and Excel TM1 worksheets. Additional items that can be added to a Dashboard include; Media, Action Buttons, Web pages, Images and more. In short, IBM Planning Analytics Workspace is a powerful reporting tool providing you with new ways to analyze data, plan and access your content.

Want to learn more about IBM Planning Analytics? Email us and we’ll show you how powerful it can be for your company.

Read other Tech Tips blog posts:

Important Things to Consider When Changing your COA Structure

Securing Data from IBM Cognos TM1 On-Prem to IBM Planning Analytics

How to use IBM Planning Analytics Workspace

How to Create IBM Planning Analytics Workspace Content (Part 1)

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IBM’s Cloud Strategy and How Revelwood Can Help

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IBM is investing heavily in its analytics solutions, which means lots of things are changing for the better. At Revelwood, we see it as our job to help our clients interpret these changes to better understand how they might affect your organization in a practical way.

One critical component of IBM’s strategy has been the move to cloud. Not only has IBM acquired cloud-based companies like Softlayer to address the world’s infrastructure and platform needs, but it is migrating virtually all of its software solutions to the cloud, as well. TM1 moved to the cloud back in early 2014. Late last year, TM1 Cloud was reincarnated as IBM Planning Analytics (IPA), which includes TM1 and much more.

Here is a quick summary of the key components that are part of IPA:

  • TM1 – Multidimensional database engine (same as on-prem)
  • TM1 Web – Web environment, including Websheets, cube browsing, etc. (same as on-prem)
  • CAFÉ for TM1 – Excel add-in for TM1, including new functionality not available in Perspectives (Perspectives is also supported in IPA, but only for administrators as a means to publish Websheets)
  • Planning Analytics Workspace – a visual, self-service dashboard and lightweight reporting and data capture tool to interact with TM1 data (New!)
  • Watson Analytics – self-service cognitive discovery and prediction (New!)
  • Cognos BI – business intelligence and robust reporting against the TM1 data source (New!)

Moving to IPA on the cloud has its advantages, as well as some considerations to be aware of. For example, not all existing functionality in on-premise TM1 is ready for the cloud just yet. We’ll be covering more on IPA in upcoming blogs, so be sure to check back here often.

What we at Revelwood find most compelling about IBM’s direction is the dual “on-premise or in-the-cloud” strategy. Your organization can choose the right solution at the right time. We can help you understand the differences, develop a roadmap for migration, structure your renewal contract to include the cloud option and, of course, work with you on the migration itself. Just let us know and we’ll get the conversation started.

Who at Revelwood should I call, you ask? Great question. If you haven’t met him already, you should meet John Pra Sisto. John joined Revelwood last year as our first ever Client Success Manager. Yes, his entire purpose at Revelwood is to ensure that our clients are happy and successful. If you don’t know who to turn to, contact John. He can be reached at 201.984.3025 or jprasisto@revelwood.com.

Thanks for listening…we look forward to hearing from you.

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