Benefits of TM1
TM1 is short for IBM Cognos TM1 and it refers to a software intended for businesses to help them implement planning solutions that also allow forecasting and budgeting. ‘Â This particular software is also designed to produce analytical data through applications that produce reports. ‘Â TM1 is packed with features that can give the following benefits to companies and enterprises:
1. ‘Â Easy access to analytical data
TM1 provides only one interface to access all data relating to the planning solutions up to the reporting solutions. ‘Â This simply translates to easy viewing of reports which one could analyze easier to check against business plans and goals.
2. ‘Â Easy development and deployment
The configurations involved in TM1 also allow the IT experts or network administrators to easily customize solutions for their particular company. ‘Â And when customization is made easy, companies can also take advantage of the system almost as quickly.
3. ‘Â Integration with external software
IBM Cognos TM1 allows users to use external Web-based software to function as the authoring medium. ‘Â Compatibility is extended to users of Microsoft Excel and browsers such as IE and Mozilla Firefox.
4. Consolidation of data from different sources
Another great thing about TM1 is that it features a platform for integrating various data from different sources which may include the users’ personal files, ERP system data, spreadsheet entries, and details from other applications.
5. ‘Â Information Security
IBM Cognos TM1 allows security configurations based on the users role in the business. ‘Â This means that user access may be configured in terms of their rights on which part of the business framework they are allowed access to. ‘Â Restrictions may be put for every single user depending on his/her rights and needs.
TM1’s features are a great benefit to companies and businesses in terms of data integration from various departments. ‘Â Data can be shared and/or analyzed between these different departments making various internal processes more efficient.