So what is TM1? Why is it so ground-breaking? And why are spreadsheet enthusiasts the first ones to fall in love with it?
IBM Planning Analytics powered by TM1 (aka TM1) is the ideal technology for making spreadsheet-centric budgeting, forecasting, financial reporting and literally any spreadsheet-based analytical application scale to the enterprise. TM1 combines the freedom, flexibility and familiarity of spreadsheets with the power and control of an enterprise database.
TM1 uses the same cell-oriented concepts as spreadsheets, but can support collaboration among thousands of users, using terabytes of data and deeply complex modelling to match real-world business needs.
Manny Perez, is the creator of TM1, which he describes as the first “Functional Database.” Manny was one of the first visionaries to exploit in-memory computing back in the early 1980s. He designed TM1 from the ground up specifically to solve complex, forward-looking business modelling problems associated with budgeting, forecasting and financial reporting.
TM1 works in a cell-oriented way just like spreadsheets. In the same way that any cell in an spreadsheets workbook can be a function of any other cell in any spreadsheets workbook, in TM1, any cell in any TM1 cube can be a function of any other cell in any cube.
In this way, TM1 is a natural evolutionary step after spreadsheets – providing the intuitive power and flexibility of spreadsheets and scaling it to the enterprise.
Like spreadsheets, TM1 is valuable to business users because it allows them to combine multiple data sources along with user input to create the business models that underpin real business decision making.
TM1 is far faster than any competing technology in the market for FP&A like budgeting, forecasting and financial reporting. TM1 uses a very efficient, patented data compression algorithm, to fit large datasets in very small amounts of RAM.
You get instant results because TM1 is smart enough to calculate only the changes quickly in memory, and not have to recalculate the entire data model every time a value changes.
TM1’s real-time calculation capabilities keep your information always current for all users. Any user makes a change and everyone sees the result instantly. This allows for coordinated and fast collaboration. No waiting. You get much more time for further collaboration and analysis of your business.