IBM hosted the Big Data and Analytics Analyst Insights conference in Toronto recently to emphasize the strategic importance of this topic to the company and to highlight recent and forthcoming advancements in its big data and analytics software. Our firm followed the presentations with interest. My colleagues Mark Smith and Tony Cosentino have commented on IBM’s execution of its big data strategy and its approach to analytics. As well, Ventana Research has conducted benchmark research on challenges in big data.
Topics: Big Data, Sales Performance, Bank, MRO, telematics, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, IBM, Location Intelligence, Operational Intelligence, FPM, Maximo, profitability management, TM1, Watson
I recently attended Vision 2013, IBM’s annual conference for users of its financial governance, risk management and sales performance management software. These three groups have little in common operationally, but they share software infrastructure needs and basic supporting software components such as reporting and analytics. Moreover, while some other major vendors’ user group meetings concentrate on IT departments, Vision focuses on business users and their needs, which is a welcome difference. For me, there were three noteworthy features related to the finance portion of the program. First, IBM continues to advance its financial performance management (FPM) suite and emphasizes its Cognos TM1 platform to support a range of finance department tasks. Second, the user-led sessions illustrated improvements that finance departments can make to their core processes today, ones that improve the quality of these processes and go a long way toward enabling Finance to play a more strategic role in the company it serves. Third, the Cognos Disclosure Management product has better performance and useful new features to support the management of a full range of internal and external disclosure documents, including the extended close, which I have discussed.
IBM this week announced its pending acquisition of the Star Analytics product portfolio. Star Analytics is a privately held company that offers products designed to provide easy access to and integration with Oracle Hyperion data sources. While Star Analytics has a good product and solid references, it has lacked critical mass to support more effective sales and marketing efforts. Star Analytics’ strategic value to IBM lies in its ability to unlock data held in Oracle Essbase multidimensional databases, which is the repository for applications such as Hyperion Enterprise, Financial Management and Planning. It supports IBM’s aim to offer comprehensive business analytics capabilities, which means it must be able to facilitate access to all data sources. Longer term, it enables IBM to compete with Oracle for finance department customers with IBM’s own financial performance management applications. Star Analytics gives IBM a means of fostering relationships with existing users of Hyperion applications and a more graceful migration path to using IBM’s financial, analytics and business intelligence software.
Topics: Reporting, closing, Essbase, Hyperion, Analytics, Business Analytics, Business Performance, Cloud Computing, Data Integration, Financial Performance, IBM, Information Management, Oracle, Financial Performance Management, Star Analytics, TM1