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PARSIPPANY, NJ--(Marketwired - Aug 7, 2013) - Revelwood, an IBM Premier enterprise companion and leader in designing and imposing IBM enterprise Analytics purposes, announced these days it's the first IBM company companion worldwide to earn IBM Cognos TM1 Gold Accreditation. The company completed this by using working with lots of of purchasers on successful IBM Cognos TM1 efficiency administration and analytics functions.
"Revelwood is one in all IBM's longest standing companions working with Cognos TM1," mentioned Mark Enslin, enterprise Analytics Accreditation software manager, IBM. "This accreditation is a testament to the depth and breadth of Revelwood's potential in helping their consumers make the most desirable use of IBM Cognos TM1 -- which translates into enhanced resolution making and measurable business merits."
The IBM Cognos TM1 Gold Accreditation is a part of IBM's software practice Accelerator, which turned into launched in early 2013. This application is designed for IBM company companions to accelerate and raise their means to successfully enforce options which leverage IBM utility. to be able to earn this accreditation, Revelwood needed to have 15 practitioners licensed on quite a few elements of Cognos TM1 and had IBM overview and validate a cross-part of successful Cognos TM1 deployments Revelwood has delivered to their valued clientele.
"This fulfillment is directly concerning their stringent requirements for Revelwood consultants to have in-depth and palms-on potential of Cognos TM1," stated Ken Wolf, President and CEO, Revelwood. "The regular size of time their consultants had been using Cognos TM1 is eleven years. This deep event is why Revelwood is in a position to carry wonderful efficiency administration and business analytics purposes on-time and inside price range."
extra IBM Awards
The IBM Cognos TM1 Gold Accreditation is only one of a few prestigious honors Revelwood has earned from IBM. Revelwood become awarded the 2013 IBM company Analytics means Authorization business companion fulfillment Award, which acknowledges IBM business companions who have tested excellence in offering company price with enterprise Analytics, Predictive Analytics, business content management and suggestions administration utility. Revelwood became chosen from enterprise companions worldwide who have offered "ingenious options and fantastic client value" for the Revelwood™ BPM Suite, an out-of-the-field implementation accelerator for enterprise economic planning and reporting.
Revelwood additionally gained the 2011 IBM Beacon Award in the surprising enterprise Analytics Innovation category for the Revelwood BPM Suite. Winners of the Beacon Awards are selected from greater than ninety five,000 enterprise companions worldwide through main industry journalists, analysts and executives for 27 award areas.
About Revelwood Revelwood is an IBM Premier enterprise partner offering implementation functions, practising and guide that carry ease, speed and adaptability to economic planning and reporting, enterprise intelligence, fiscal governance and income performance administration. Combining IBM Cognos company Analytics software with greatest practices and pre-configured, out-of-the-box applications like Revelwood's BPM Suite™ and performance Toolkit™, Revelwood helps agencies to speed up the constructing and deployment of performance management solutions. a whole bunch of a hit implementations and proven ROI for dozens of Fortune 1000 and mid-market organizations are just a number of motives corporations turn to Revelwood for their performance management wants. more information on Revelwood can also be acquired through touring http://www.revelwood.com or calling 201.984.3030.
TM1 isn't going any place, IBM Cognos continues -- although huge Blue hasn't yet dominated out altering its manufacturer.
it be been an extended and strange street for the venerable TM1 OLAP engine, which has twice changed possession over the last 10 months.
First, in October of 2007, TM1's developer -- the previous Applix Inc. -- changed into bought with the aid of Cognos Inc. lower than two months later, Cognos was itself acquired via IBM Corp. given that then -- and regardless of guarantees by both do correct by Applix valued clientele and leverage TM1 as the centerpiece of its Cognos monetary efficiency management (FPM) platform -- issues went dark on the TM1 entrance.
except this week, that's. nowadays, IBM Cognos introduced a new edition 9.four update for TM1, touting the anticipated efficiency and usability enhancements, together with new internationalization improvements that, officers argue, stem from big Blue's stewardship of the Cognos and Applix brands.
TM1 is never going anywhere, officers say -- however IBM hasn't yet dominated out changing its company. in addition, despite the fact that IBM Cognos is hard at work incorporating TM1 into its BI and PM products -- a technique that includes each integration and reconciliation -- "legacy" Applix customers will nonetheless be in a position to purchase the bread-and-butter TM1 OLAP engine, by way of TM1 MidMarket edition, which IBM Cognos plans to market to SME varieties.
"We're providing a dedicated mid-market providing," says Applix veteran Joe Pusztai, now product advertising supervisor for TM1 with IBM Cognos. "we are very a great deal dedicated to preserving the skill to use TM1 in a standalone, all-in-one potential. We're now not ever going to make consumers purchase application that they don't want."
Pusztai pointers that the TM1 brand itself may go away: "The TM1 identity may now not really carry forward. They still haven't determined about that, but the specific technology itself … that [is something] they can continue to lift forward" on a standalone basis," he asserts.
TM1 edition 9.1 was a relatively mature product when Cognos picked it up final year. then again, Pusztai says, there may be at all times room for growth. Enter TM1 9.4, which boasts a few improvements, starting with a function (active forms) that smacks of the Dynamic Slices skill which Applix delivered in TM1 9.1.
there's a explanation for that, he acknowledges. "That [Dynamic Slices] skill has been more suitable vastly in the 9.4 unencumber below a characteristic known as active forms." Pusztai describes energetic kinds as "simply a version 2.0" update for Dynamic Slices, enhancing upon its predecessor in a couple of respects -- e.g., enabling entry by means of TM1 web client periods (Dynamic Slices is Excel-simplest), supporting system-based mostly row definitions (Dynamic Slices helps subset-most effective definitions), the usage of Excel's native formatting metaphors to carry "plenty-better report formatting, and supplying aid for server-side zero suppression capabilities.
This remaining is a large growth over Dynamic Slices, which first pushed records right down to the client earlier than filtering it. This led to appreciable bloat, Pusztai keeps. "we'd ship all of the information down the wire after which the customer would filter it, as opposed to what we're doing now, [which is] suppressing it at the server, so that that statistics under no circumstances goes down the wire," he explains.
we would just like the potential to embed Python, R or Spark code inside Cognos Analytics… this could permit us to prolong the functionality past what comes out of the container of Cognos or even Watson Analytics and truly make this an impressive BI and analytics device.
So the enterprise purpose was basic — skate to the place the puck is going to be because the market grows. They want to give their business consumers an end to end adventure and gear the place their information science teams and techniques can mature.research
the first step changed into to more suitable consider their users and validate some of their assumptions.Persona evaluate one of the most options and questions captured all over their initial persona overview
records science is new to Cognos, however other products inside the IBM Hybrid Cloud household have done work in this space. They leveraged their persona analysis as a starting point to more desirable have in mind Chris –- their data scientist and first persona.
The 2d step become aligning around their secondary clients, Lucas and Emette. existing Cognos users definitely to work carefully with information scientists in their org.user research
the usage of one of the crucial questions they generated from their persona overview, installation a number of customer interviews. They wanted to improved be aware their present records science workflow, the dimension and distribution of their teams and what their current workflow looked like. right here’s are some highlights from what they found:
We additionally looked on the leisure of the business to look how their competitors similar to Tableau and energy BI stacked up. What had been the gaps in their solutions, the place did they have an opportunity to differentiate their personal strategy, and how might they add price via integrating with different IBM items.
For both Tableau and energy BI, the integration limited and not scalable for deployment across giant companies. They additionally identified some potential security issues.
We determined to align ourselves as intently as they may with Watson Studio as a result of frankly — based on their analysis, they got it correct. Their integration of existing data science equipment involved a light-weight contact. any individual conventional with Jupyter would feel right at domestic, and clients might with no trouble usher in backyard assets and continue their work, instead of be compelled to learn a brand new device. Aligning with Watson Studio would also assist be sure a easy glide direction for their customers between Cognos and the leisure of IBM’s laptop learning concentrated items.Aligning round a common vision
as soon as they had a basic, shared figuring out of the company needs and alternatives, in addition to their users and their needs, they essential to position this into motion and align on a single vision for their MVP.Writing hills
if you’re now not customary with the idea of hills, they’re probably the most keys to business Design considering at IBM, and the way their groups work. which you could study greater about them right here, however briefly:
Hills are statements of intent written as significant person outcomes. They tell you the place to go, now not a way to get there, empowering teams to explore breakthrough ideas with out dropping sight of the goal.
feel of it like a wants observation on steroids. All hills have three accessories:
The Who: who's your goal consumer?
The What: What problem are you fixing, or what are you enabling them to do? what's the user outcome?
The Wow: What’s the market differentiator? What makes this answer pleasing and impactful to your users (and in flip to your enterprise)? The wow should be concrete and measurable.
here’s some examples from the above hyperlink.
one other factor about hills — they are living documents. A hill’s fundamental goal isn’t to act as a commandment set in stone. It’s to keep teams aligned around a shared, person focused outcomes. it could possibly and may be subtle or even changed all collectively as their figuring out improves.
Above are the hills they first got here up with, going from sticky notes to a primary draft. under are the same hills after a few revisions over time.Wrapping issues up and finding out what they don’t comprehend
while the research was an ongoing effort, the bulk of the above work become tackled over a multiday kick off workshop I ran with my dev team and their PM in Ottawa.
After they had written the first draft of their hills, it was time to investigate next steps. What were the issues building could start on automatically, and what issues nonetheless vital investigation? As they discussed, they kept uncovering further and further questions.
I asked my teammates to write down their questions down and put them up. as soon as all of the questions had been up, they drew a grid, then mentioned, grouped and prioritized each and every question.
this is principally effective in instances the place groups are dealing with loads of ambiguity. Doing this now (and following it up all over sprint retros), helps groups share expertise, take into account the risks, prioritize what wants attention and (confidently) keep away from nasty surprises in a while.
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At colleges large and small, Big Data is much more than a buzzword. Nearly half of higher education institutions are harnessing it to boost retention, employing predictive analytics to identify students who may be at risk in hopes of keeping them moving toward graduation. Yet increasingly, colleges are leveraging data analytics to forecast their revenues, target fundraising efforts and streamline business operations.
Jon Allen knows the breadth of data analytics firsthand. As the CISO and assistant vice president at Baylor University in Waco, Texas, he and his team took Splunk software and turned it into a Swiss army knife for managing data across a network of more than 20,000 machines.
Jon Allen, CISO, Baylor University.
Allen began using Splunk on a small scale about four years ago, simply to comply with peripheral component interconnect requirements for network log monitoring. But the longer the university looked at Splunk, the more ways they found to use it, he says. What began as a straightforward application grew into a software license that now consumes 400 gigabytes per day
For example, Baylor uses Splunk to slash turnaround time on help desk queries, such as assisting users who are locked out of their accounts. Now, instead of spending hours poring over logs for each domain controller, server admins can throw them into Splunk and find the answer in minutes.
“This is basically Google for your machine data,” says Allen. “ ‘How am I going to understand what is going on with all these logs?’ That’s what Splunk does.”Data Provides a Clear Vision into Operations
As CISO, Allen uses Splunk to analyze network logins and correlate threat data between the server logs, firewalls and intrusion prevention systems. Baylor has even used Splunk data to predict the best places to install access points as its wireless network expands. More recently, Baylor has brought in logs from some of the 130-plus cloud services it has deployed, such as Box, CrashPlan, Duo and Fischer IDM.
“Now they have visibility into their hybrid data center,” says Allen. “I don’t care if something is happening in the cloud or on-premises. I can see what’s going on inside my organization.”
Allen says that Baylor has barely tapped Splunk’s potential for predictive analysis across a range of university departments eager to take advantage of its capabilities. The real value of Splunk, Allen says, is its ability to deliver not only information, but insight: “I can have gigs and gigs of data — who cares? But if I can actually make something meaningful and actionable out of that data, that’s important.”Addressing the Retention Question
Many universities are just starting to take advantage of Big Data tools, says Alan Duncan, a research director at Gartner. Others are still at the talking stage.
Much of the discussion centers on how to ensure students stay in college long enough to complete their degrees, he says. By tracking data such as students’ test scores and level of engagement in online learning environments, institutions seek to identify students at risk and intervene before it’s too late.
Retention rates also have serious financial implications: If students drop out, a university could lose out on tuition payments. Beyond that, it costs more to recruit a student — think marketing, travel and administration expenses — than to retain one. In the long term, students who don’t finish college are less likely to pay off their student loans and to support an alma mater as donors.
“There are both academic outcomes and institutional outcomes, and the two can be uncomfortable bedfellows,” Duncan says. “Institutions are interested in the welfare of students, but they also have to get paid for the educational services they provide.”Analytics for Financial Forecasting
Budgeting and financial forecasting are the primary reasons that Northwestern University outside Chicago uses IBM Cognos TM1, says Lauren J. Pahnke, senior systems analyst for Northwestern’s finance, facilities and research administration systems.
In preparation for each fiscal year, every department submits a projected budget. These are entered into Cognos TM1 and imported into the university’s financial system, where adjustments can be made once the fiscal year begins, Pahnke says. The university then brings budgets and actual numbers back into TM1’s forecasting application, which departments use to track their financials over the course of the year.
“We used to do all this in Excel,” she says. “But it’s just not maintainable. Now they can see the detail going into people’s calculations, where the numbers came from and what their assumptions were. Before TM1, they couldn’t see any of that.”
In 2015, Northwestern added a tuition forecasting module that lets managers of academic programs enter an estimated head count and tuition rate, then project what a program’s revenue will look like and where it will flow, says Pahnke. However, adoption of that forecasting tool has been slower than anticipated.
“We hope people will use it because this is the kind of thing TM1 is very good at,” she says. “I think there’s a big need for it, but it’s harder for people to make that transition. Their central budget office definitely sees the value in it.”
Need for Speed in Solving IT Issues
In the future, data analysis applications are likely to become more varied as staff in diverse departments recognize their potential. For now, the biggest impact of solutions like Splunk and Cognos is often felt in IT departments, particularly when such tools enable teams to accomplish more with fewer resources.
At Laguna College of Art + Design in suburban Los Angeles, for example, a two-person IT staff is responsible for approximately 1,000 students, staff and faculty. LCAD uses Splunk as a force multiplier, automating the collection and analysis of network log files, says Shawn Tetzlaff, the academic computing administrator.
With Splunk, Tetzlaff can see how well each server is performing, how often it restarts and if students are committing access violations by illegally downloading movie or music files. Besides preserving bandwidth, the latter is important because LCAD, like all colleges, must comply with the Higher Education Opportunity Act, which requires institutions to make a good-faith effort to combat copyright violations.
It used to take 25 minutes to work backward from an IP address to figure out which student was violating the college’s acceptable-use policy. Splunk has reduced that time to less than five minutes, which frees up Tetzlaff for more important tasks.
“The speed at which Splunk queries the database and the nearly unlimited ability it gives you to parse that data is fantastic,” he says. “It’s already paid dividends in saving time for me, and I figure if it can save me that much time, they can figure out how to make it work for others. We’re still in the fledgling stages of realizing its full potential.”
Only 20% of business intelligence requests should be routed through the IT department, according to Forrester Research Inc. in Cambridge, Mass. That leaves the majority of BI requirements to be completed by the business user.
While the 80-20 split is not a scientific ratio and was instead derived from anecdotal evidence, Boris Evelson, a principal analyst with Forrester, hopes it drives home a message for businesses.
“It could be 90-10, 70-30, 60-40 in different organizations,” he said. “But what’s important to realize is that if IT is responsible for more than 50%, the backlog of BI requirements will keep growing.”
The advice comes out of a new Forrester Wave report on self-service business intelligence (BI). The Forrester Wave: Self-Service Business Intelligence Platforms, Q2 2012, led by Evelson, notes that the BI environment is unique compared with CRM, ERP, human resources or financial applications. In those cases, businesses can move at a more deliberate pace and still will most likely see a return on investment.
“[B]ut a BI application can become outdated the day it is rolled out,” the report reads. “Even within implementation times of just a few weeks, the world may have changed completely due to a sudden merger and acquisitions event, a new competitive threat, new management structure or new regulatory reporting requirements.”
And that’s not the only differentiation. Unlike other enterprisewide systems, the requirements for a BI implementation may not be obvious until after the implementation is completed. That’s compounded by their different priorities: While business users aim to serve their clients; IT aims to hold the data to a certain standard, according to the report.
A self-service BI environment could empower business users while taking some of the pressure off of IT. To help businesses move in that direction, Evelson’s research outlines 10 capabilities a platform must have and rates the top 12 products on the market.
“If you are a business user, there are self-service options for you beyond Excel,” he said. “If you are an IT pro, you can now have your cake and eat it too: You can give business users a great degree of self-service capabilities using enterprise-grade tools.”
Consider capabilitiesThe term self-service BI tends to imply tools that are easy-to-use – even instinctual. But “‘intuitive’ and ‘user-friendly’ are subjective terms,” according to the report.
Before purchasing self-service BI platforms, businesses should consider the kinds of capabilities they want and the skill levels of the people building the applications. Those requirements, for example, may be different for an older generation of workers than for a younger generation who grew up on Google and Facebook.
As guidance, the report highlights 10 capabilities businesses should consider during the evaluation process; the list includes automodeling, collaborative features, write-back functions and “migration to production.”
Before a business user can publish and share a new BI application -- even in a shared environment -- it should be “productionalized,” according to the report. This final stage loops the IT department into the process so that the standards it has put forth can continue to be met.
“The right approach? A publishing action that kicks into motion a ‘move to production workflow,’ ” the report states, “or at least automatically notifies the appropriate IT resources.”
Vet the vendorsTo assess the product offerings by what it considers the top 12 self-service BI vendors, Forrester constructed a 31-criteria evaluation based on research as well as user, vendor and expert interviews.
“We included vendors with at least 100 in-production customers present in more than one major geographical region,” the report read. “We also focused on vendors that Forrester clients frequently mentioned or asked about in the context of business intelligence.”
The vendors had to provide the majority of the capabilities Forrester outlined in its report, use SQL and MDX to query databases and provide BI tools that do not have to be embedded into other applications. Based on these requirements, IBM Cognos Insight, which is based on the in-memory OLAP TM1 engine, was crowned the vendor with the strongest product offering.
IBM was joined in the “leaders” pool by a majority of the megavendor lineup: Microsoft, SAP and SAS. Tibco Software and MicroStrategy were also included among the leaders, but both seemed to straddle the line between the first and second tier of vendors.
Oracle was also present, but not among the leaders. It was included in the second tier, which Forrester refers to as “strong performers.” Forrester notes that Oracle has “persistently and successfully” closed the gap, citing Exalytics as an example. Though the recent Endeca acquisition was not considered for this analysis, the report gives it a significant nod.
“[It] has the potential to significantly boost Oracle’s overall position in the self-service BI market,” the report states.
Oracle was joined in the second wave by Information Builders, Tableau Software, Actuate, QlikTech and Panorama Software.
“In many specialized situations where certain features have specific importance, these vendors can even outshine and outperform the leaders,” according to the report.
In this vertical industry business intelligence (BI) special report, we've compiled popular articles, FAQs and...
case studies on the managing and maintaining of BI software and other data management initiatives in three major vertical industries — healthcare, finance and retail.
In this section of their vertical BI special report, you'll find tips and best practices advice for initiatives and software implementation in the financial industry. You'll also find case studies about how banks and other financial institutions are upgrading their infrastructure to get in line with the 21st century.
More vertical BI reports:
Business intelligence in healthcare: Special reportBusiness intelligence in financial services: Special reportBusiness intelligence in retail: Special report
Financial BI news and case studies
It's important for any company to be able to use its data to create sound budgets, complete accurate reports and make better decisions. Nowhere is that more paramount than in the financial services industry, which has fallen under heavy scrutiny over the past couple of years. This section shows what banks and other financial groups are doing to improve their BI and data management platforms and infrastructure.BI and analytical tools for the financial market
According to BI expert William McKnight, there is not necessarily one BI tool that's best suited for the financial industry since "tools are not industry specific." Instead, the most important factors financial companies need to consider for a successful application are data design, quality of the data and data interpretation.
Instead, the most important factors financial companies need to consider for a successful application are data design, quality of the data and data interpretation.
According to McKnight, multidimensional OLAP is a data architecture that works well with financial data. Oracle/Hyperion Essbase and IBM Cognos are examples of such architecture. For financial groups looking to bolster intellectual property consideration around financial should look into applications instead of tools, McKnight said. Oracle/Hyperion Financial Management is a good example of a financial application.Financial industry keeping up with the times
In the 1970s, Pershing LLC was on the cutting-edge of IT when it started providing clients with electronic reports instead of paper-based consumer data reports. Nearly 30 years later, however, it was still using the same dry, row-based reports and its customer data-related BI capabilities were stuck in a decade long gone by — i.e., no ad hoc querying or interactive dashboards.
It was time for an upgrade, according to Tony Berman, vice president of information delivery and eAnalytics at Pershing.
"We were always getting requests from their customers for more [data analysis capabilities]," he said. "They were looking for more flexible ways to look at their customers and their behavior." So in 2002, Pershing sent out an RFP for a BI product that could integrate with its financial trading platform to allow clients to manipulate customer data and conduct advanced analysis. When the company finished evaluating different vendors it settled with WebFOCUS BI.
The implementation provided Pershing's clients with access to customers' account data as structured, ad hoc reports with tabular results, interactive dashboards and scorecards. It also allowed clients to do all their analysis from a single portal without the need of help from Pershing's staff or IT.
According to Pershing, the most popular report types have been prospective analysis, customer location analysis and filtering through customer data by age or account type and then putting that info into context by comparing the results with industry-wide and individual market segments.Conquering budget woes with corporate performance management (CPM) software
One would think that a financial institution would have a sophisticated, or at least fairly modern, system in place to handle most financial functions. That wasn't the case, however, when Jeff Hudson, VP of financial systems, first joined New Alliance Bank (NAB) in late 2005.
The company was doing most of the basic financial tasks — including budgeting — via Microsoft Excel, plus running profitability numbers on a "stripped-down" edition of Hyperion's Essbase and printing out customer account histories with Microfiche. Because of all this, budgets weren't done at the end of the year because it was such a big process and inaccurate, redundant and incomplete data was commonplace.
The impact was almost immediate as the bank was able to cut its budget time in half, from four months to two...
To start, Hudson knew NAB needed a set of BI and financial reporting tools that users would be comfortable using but also flexible enough to meet the bank's evolving data demands. NAB went through a rigorous evaluating phase, looking at about 30 online analytical processing (OLAP) vendors before deciding on Applix' TM1 reporting and analysis tool.
The impact was almost immediate as the bank was able to cut its budget time in half, from four months to two, because of TM1's ability to run multiple scenarios at the same time and the ability to add extra scenarios on the fly, when needed. And, because of an easy interface, NAB's CFO conducts all his ad hoc queries analysis in TM1. One of the downsides, NAB noted, is that the system runs slower towards the end of the budget season as employees try to complete their numbers by deadline.
More on Vertical BI:
More vertical BI reports:
Business intelligence in healthcare: Special reportBusiness intelligence in financial services: Special reportBusiness intelligence in retail: Special report
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