How to implement Scenario Analysis in OneStream XF

Looking for a Scenario Analysis solution? OneStream has recently released a new solution in its Market Place: Scenario Analysis 123. This solution helps you to create and manage multiple rules and to execute calculation jobs across different scenarios. Scenario Analysis 123 includes built-in reporting capabilities to compare results and analyze variances across scenarios. As an increasing number of organizations are interested in applying scenario analyses, we’ve investigated it thoroughly. How do you implement it, and what are the benefits of Scenario Analysis 123?

By Marc Roest, September 2020

First of all, please note that the solution Scenario Analysis 123 is not intended for full Entity or multiple-hierarchy consolidations spanning multiple periods or years. Therefore, it is mainly designed for power users and accessible via a dashboard instead of the user-workflow.

Want to know how to implement and use Scenario Analysis in OneStream XF? We’ll take you through the process in 4 steps:

Step 1. Configure Scenario Analysis 123 in OneStream XF

Just like most other Market Place solutions, Scenario Analysis requires Ancillary Table access. If you don’t have this set up yet, you can follow the steps described in the setup instructions document. Do you have other solutions running already? Then this is not required anymore.

After downloading the solution as a .zip file from the Market Place, you can import it in your application via Application -> Load/Extract. After that, the Scenario Analysis (SAM) will appear under OnePlace -> Dashboards. Here, you can create the tables and then launch the solution:

Don’t forget to decide who has access to the Scenario Analysis solution. You can do this in the global options. After that, you’re ready to go.

After launching the solution, the homepage contains 3 items: Setup, Execute, and Analyze.

Each of these items has its own function:

  • Setup: Create and maintain scenario definitions, rule sets, and rules.
  • Execute: Execution and maintenance of calculation jobs.
  • Analyze: Chart and pivot grids to review the results.

Step 2. Set up definitions in OneStream XF Analysis 123

The next step is to set up the definitions in Analysis 123. You begin by creating a new definition that consists of a Source and Target Scenario for a specific cube and you do this on the setup page.

You can create a new definition via a pop-up with the following fields:

There are a few things to pay attention to during this step. First of all, please note that the checkbox ‘Copy All Rule Sets and Rules from Source’ only applies to Scenario Analysis. For example, this checkbox will not copy member formulas or business rules. Only existing Scenario Analysis definition rule sets and rules are copied.

Also, the selected Source and Target Scenario must have the same settings. It is not (yet) possible to copy from a yearly scenario to a scenario with a predefined period range or one that uses extensibility if the Source scenario doesn’t.

After creating the definition, the scenario is made in the metadata:

However, if you delete the definition, you must manually delete the scenario from the Dimensions.

Using rule sets in OneStream XF Scenario Analysis 123

A Scenario Analysis Definition contains rule sets. A rule set is a collection of rules that can be applied to the target scenario. You can order a rule set with a sequence and set it active/ inactive. The Collapse Data option will put all data on the Import member in the origin dimension. This feature is useful if overrides via forms are required on the created Target Scenario.

The next level consists of the actual rules that need to be executed. Scenario Analysis Rules are a collection of percentage values tied to a specific dimension and time range. You can apply member filters for each dimension, except for Origin.

Existing rules can be copied as a starting point for a new row, for example, with a new account. There is also an option to apply a fixed percentage for all 24 periods at once. However, this option can be overwritten.

After finalizing the rules, you can apply them to the new target scenario via the apply button:

Every time a rule is changed, this must be re-applied.

The apply button will create a member formula on the new Target Scenario:

If you are interested in the techniques applied, you will be disappointed: OneStream decided to encrypt all the business rules involved in this solution. However, the solution does include a CustomEventHandler that can be loaded as a business rule to allow some customizations to the solution. This is included in the dashboard files, where it can be saved and then re-imported. You’ll find the required adjustments described in detail in the setup document. The script already contains events where you can enter your customized code.

Step 3. Execute definitions in OneStream XF Analysis 123

After configuring the tool and implementing the definitions, it’s time to execute the definitions. A calculation job needs to be created on the Execute screen within the existing definition to execute the member formula.

The documentation alerts for performance impact, so this is the part where you need to limit your consolidation/ calculation scope. In my case, I executed a 12-month force calculate for 1 entity:

After saving the Calculation Job, you can start it via the run button. After a few moments, the results are ready to be analyzed.

Step 4. Analyze results in OneStream XF Analysis 123

When the calculation is finished, you can review the results in the included dashboard. Here, you can enter the definition, Entity, Account, and period selection to show different Source and Target Scenario visualizations.

Also, there is an option to do further analysis using the Pivot option:

Conclusion

The new OneStream XF Scenario Analysis 123 is a great way to create various scenarios to compare against your current figures quickly. It allows a key user to quickly generates different scenario’s and compare them against each other. Unfortunately in this first release it is not yet possible to dynamically calculate the percentages for the future periods from a driver or a calculation. When that is added this is a must have for every planning solution in OneStream XF.

Pros of OneStream Scenario Analysis 123:
+ Easy and user-friendly way to set up calculated variance scenarios
+ Dashboard and Pivot functionality included
+ Quickly copy Definitions to change your

Cons of OneStream Scenario Analysis 123:
– Not yet possible to use dynamic drivers as input for the percentages

The setup is described in detail in the documentation, and the configuration can be done quickly. Therefore, I classify this solution as Admin Configurable. Please see my earlier post ‘The OneStream XF Market Place in real life’ about classifications.

Let’s discover the OneStream Market Place together

Want to know more about the OneStream Market Place? In a series of blogs, we’ll delve into the details of the Market Place and the solutions available. In the blog ‘The One Stream Market Place in real life’ you’ll find more details about the basics of the Market Place. And in the blog ‘How to install role-specific user interfaces in OneStream XF’, we discovered how the Actor Workspace improves the user experience of OneStream XF.

Any questions or suggestions for a Market Place solution you would like to read about? Don’t hesitate to contact me!

Do you prefer to discuss the details live? Finext organizes OneStream events on a regular basis. You can look at our OneStream agenda for more information about our events, livestreams, workshops, trainings and webinars

Cannot wait for our live events? Don’t hesitate to contact me with your questions so we can plan a (web) session to answer any questions you have about OneStream XF and the Market Place.

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