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…
$825
per month 5 users
Quantrix
Score 7.4 out of 10
N/A
Quantrix is designed to allow users to address the limitations and risks inherent to spreadsheets when developing business-critical models. According to the vendor, this solution offers unmatched capability for forecasting, planning, budgeting, risk modeling and visual analytics, and also allows users to develop ‘what if’ scenarios and model the financial and operational impact of business decisions. Additionally, the vendor says sharing insight is made easier through the creation of interactive…
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Pricing
IBM Planning Analytics
Quantrix
Editions & Modules
Essentials
$825
per month 5 users
Standard
$1,650
per month 10 users
No answers on this topic
Offerings
Pricing Offerings
IBM Planning Analytics
Quantrix
Free Trial
Yes
Yes
Free/Freemium Version
Yes
No
Premium Consulting/Integration Services
Yes
Yes
Entry-level Setup Fee
Optional
No setup fee
Additional Details
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Quantrix Modeler is licensed on a per user subscription basis.
I would be likely to recommend IBM Planning Analytics, particularly in scenarios where comprehensive financial and operational planning is essential. For instance, in our construction company, it is awesome for optimizing resource allocation across multiple projects, creating detailed project budgets, and conducting risk analysis to mitigate project uncertainties.
If you find yourself in the ocean of traditional spreadsheets, overwhelmed by broken links, errors, model audit problems, hardwiring, etc. here is a lifebuoy for you. If you want to have full flexibility in your budgeting and forecasting in contrast to ERPs with rigid structures and one-size-fits-all concept. If you are small or medium size company and do not want to invest in costly enterprise solutions. If you need a fast implementation https://youtu.be/5W_q5Xhw5fg
Building complex financial planning model availing of a multidimensional data structure coupled with a powerful formula language, with the immediacy and intuitiveness typical of spreadsheets
Implement quickly model modifications (new products, new scenarios, new time periods) simply adding new "items" to "categories" (corresponding to dimensions in a multidimensional data model)
Scale up models to very large datasets with very fast computation times
Easily import data from text files, other Quantrix models and external databases via DataLink and DataNAV
Save snapshots of tables computed in Quantrix to external databases via DataPush
IBM Planning Analytics was an upgrade from an older version of TM1 that is experiencing some growing pains, some functionality is harder to reach than it has been in the past
It is easy to learn as a surface user with created reports, but it does require some technical skills to make advanced calculations and reports if there is no reliable consultant available, much like Excel
Hard to be critical of the Quantrix team as I know they strive to produce the best product possible. I suppose the next thing on my wish list would be the application of the new Solver functionality to be available in the Qloud.
A big help for new users would be a good book on transitioning from Excel or other environment into Quantrix. I know first hand it can be difficult to transition when having to learn the program through a help guide, forums and tech support. I had a lot of trial and error in my journey to producing the desired models. On one hand it was a valuable method as it taught me a lot of what not to do, but I will admit it was not the most efficient way to do things.
Would also love to see local user groups being formed at some point in the future. Quantrix puts on a fantastic conference once a year in beautiful Maine, but it is a big journey for someone in Southern California (and limited to one or two days a year). I would like to see some local chapters formed in different areas of the country so local Quantrix users can get together more often and collaborate (maybe a quarterly or semi-annual meetup?). Our Quantrix community is still relatively small and may be a difficult task for some areas, but is also the very reason why this would be great idea.
Since IBM Cognos Express is suitable only for medium data warehouse environment, we are not sure if this tool solves the long term need as the business keeps growing rapidly. So its a 50/50 ratio to renew Express license. But having said that, the components of IBM Cognos Express are also available in other Cognos BI suites like Cognos 10.x version. So we will probably upgrade our environment to IBM Cognos 10.x which comes with more new features.
For developers, admins and end users looking for flexibility, IBM Planning Analytics would rate very highly on usability. For example, a developer has access to a highly performant built-in ETL (Extract Translate Load) tool and scripting language called Turbo Integrator that can (among other things) bring in data via flat file or direct connection from many data sources, move data around Planning Analytics, perform batch calculations, export to files or other data stores. In the rare situation where limitations are encountered there is a well documented REST API. Admins and end users benefit from the intuitive PAW (Workspace) interface as well as the rich Excel integration through Planning Analytics for Excel (PAfE). Since flexibility inherently comes with a little more complexity, so an organization with simple and "cookie-cutter" requirements may rate Planning Analytics a little lower.
Although I find the IBM Planning analytics documentation quite time consuming, their support with email and call is something i can term as very considerate and patient, I have had few calls about the features and how i would want to implement them within my projects, and the teams have been super helpful to resolve my issues
Anaplan does not handle sparsity; this is very problematic for large volume data sets (many 0's). There also are limitations to the number of dimensions that can be used in a module. If more dimensions are required, then separate modules need to be built and intertwined. IBM PA does not have these limitations.
Overall, I was not part of the ultimate decision to purchase Quantrix. I terms of user-friendliess and robust reporting capabilities I do think Tableau has Quantrix outclassed. That being said, Quantrix does provide more in-depth analyses for our relevant data and provides better modeling for our forecasts out of the box. The accuracy of the tools output is also much better
Capacity forecasting used to take hours to calculate with a ton of manual modifications. Quantrix has automated that so a model can be updated at any time with a click of a button
The accuracy of the models is incredible. It took some tweaking to add in data scubbers, but now it runs almost flawlessly
The confidence the management teams have in the output of the model is amazing. Before, people would question the output, have you rebuild it, and then compare. Now the report comes out and the output has high confidence.
