IBM Planning Analytics

Score8.7 out of 10

263 Reviews and Ratings

What is IBM Planning Analytics?

IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed to help users move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results. Use it to unify data sources into one single repository, enabling users to build sophisticated, multidimensional models that drive forecasts.

Categories & Use Cases

Media

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Screenshot of Workflow management

Publish to Web
Category average: 8.3
Publish to PDF
Category average: 8.4
Report Versioning
Report versioning is the assignment of version numbers to each version of a report to help in tracking.
Category average: 8.3

Pattern Recognition and Data Mining
Pattern recognition and data mining mean the ability to recognize hidden patterns in large quantities of data.
Category average: 8
Dashboard / Report / Visualization Interactivity on Mobile
In-app dashboard reports and data visualization.
Category average: 7.3
Responsive Design for Web Access
Web design aimed at producing easy-to-read sites across a range of different devices.
Category average: 7.5

Patrick Cooper

BI Consultant at DataHub (5001-10,000 employees employees)

Use Cases and Deployment Scope

I am an IT consultant and have been working with Planning Analytics/ TM1 for 15 years. It is probably the most robust planning and forecasting solution in the market.

Pros

Budgeting
Forecasting
"What If Scenario".

Cons

Not Sure, Maybe Industry use cases.

Return on Investment

It is very positive. It helps open up new clients.
It provides insights to data that most cannot.
IBM's new interface is a huge time saver.

Alternatives Considered

Microsoft Excel and Oracle Hyperion

Other Software Used

IBM Cognos Analytics

Swati Sapna View profile

Design Engineer at Dorto Design Studio (201-500 employees employees)

Use Cases and Deployment Scope

We use IBM Planning Analytics for creating clear budget for our organisation so that we can reach our future goals without much casualities. The software also help us in doing financial forecasts for our business and also it gives a platform to collaborate with different departments by taking their inputs in our upcoming projects so that best utilisation of resources can happen.

Pros

The platform help us and doing proactive plannings and forecasting for our business according to the current market dynamics
The software provides us consolidation of financial data from different sources to our finance team
The software also help us in doing the sales planning and understand the operational challenge that our team face on a daily basis

Cons

The main challenge with IBM Planning Analytics is its installation which takes multiple complex configuration challenge and training
Sometimes the software shows performance lagging issue whenever a large and variety of data inputs are given
Also I have faced from challenges during software integration with Microsoft and Google sheets which was very important for us

Return on Investment

The software has helped our finance team in minimising the manual data entry by more than 80% and focus more on holistic data analysis and business strategies
The overall time in doing annual budget in was around 90 days before but now we are able to do it only in 45 days
The software help us in understanding real time marketing dynamics and take decisions accordingly

Alternatives Considered

TeamViewer and Accompany

Other Software Used

TeamViewer, Canva

Mukhtiyar Ahmed View profile

Assistant Manager- IT in Information Technology at Eurofins IT Solutions India Pvt. Ltd (10,001+ employees employees)

Use Cases and Deployment Scope

We use IBM Planning Analytics for our budget planning ,budget forecasting real time analysis and reporting of data across organization.

The Pax Excel add in helps us to directly interact with the data in the excel without the need of switching different tools.

We also use the TM1 for resources allocation planning and asset management to align with our IT spending and future forecasts.

Pros

Budget planning and budget forecasting
Resource planning for a team with Budget allocations and Asset lifecycle management
Manual reconciliation efforts are not needed

Cons

Requires a lot of time to learn and master it
Advance features are a little complex to understand
If the data set is very big it takes a lot of time to process it hence the performance is slower
Initial upfront cost is high including the license cost
When compared with Power BI the IBM analytics lags behind

Return on Investment

Positive Impact as we are able to forecast the budget for the entire year with significant time saving
All the complex data is can be easily processed and with Excel add in functionality its easier to have all the data in one place which can be used to create Pivot or data visualization.
The date protection protocols are well set up

Other Software Used

BeyondTrust Remote Support, BitTitan MigrationWiz

Rakesh Rana

Design Executive Head in Professional Services at Dorto Design Studio (201-500 employees employees)

Use Cases and Deployment Scope

IBM Planning Analytics is completely a AI based tool for our business which works like an advance Excel software mainly focuses on business plannings and future forecasting. This software also help us in doing budget planning for future investments. IBM Planning Analytics takes lot of data inputs from different departments of our business and help them in taking will inform decisions.

Pros

The software helps us in creating quick budgets for different projects in our organisation
Financial data and sales data is easily managed through this software and it also shows the detailed numbers of these data
As the interface of this software is like MS Excel so learning the initial and basics of this tool becomes much easier

Cons

The software is little expensive it not be the best option for small businesses and startups
The iOS version of this tool is not available at all you can just use it from web browsers not as an iOS application

Return on Investment

Communicating with different branches and franchise helps us in predicting a better future projection for our business and allocate precise funds
Financial planning and management is a very lengthy process but after installing this software we are able to save more than 50 to 60% of time for doing the same thing

Other Software Used

Fortinet on IBM Cloud

Varun Kohli View profile

Senior Executive in Information Technology at Vardhman textiles ltd. (10,001+ employees employees)

Use Cases and Deployment Scope

Planning is an integral part of manufacturing business. Planning derives other processes like buying raw material, production acitivities, finishing processes and budgeting. With help of proper planning tool, the activies can be planned and cost involved can be predicted near to accuracy. The tool also helps to analyse the data and represent the information in form of dashboard.

Pros

Budgeting
Anaylsis
Supply chain planning
Forecasting

Cons

Workflow management
Sandboxing
Ease of understand and use Modeling

Return on Investment

Improved Decision Making
Attain operational Efficiency
Cost Effective
Resource Allocation Streamlined

Alternatives Considered

SAP Analytics Cloud, OneStream and Oracle Fusion Cloud ERP

Other Software Used

SAP HANA Cloud, SAP Sales Cloud, SAP S/4HANA Cloud, SAP Business Warehouse

Workday Adaptive Planning

Anaplan

Jedox

SAP Analytics Cloud

IBM Planning Analytics

What is IBM Planning Analytics?

Categories & Use Cases

Media

Key Features

Top Performing Features

Publish to Web

Publish to PDF

Report Versioning

Areas for Improvement

Pattern Recognition and Data Mining

Dashboard / Report / Visualization Interactivity on Mobile

Responsive Design for Web Access

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Other Software Used

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