Financial Management I have no idea, but quite often we use BI 8.4 / 10.1. The Cognos product line is actually quite large, and we do use basic BI material with Framework Manager, but I will try to help you based on how we use it.
Think of BI itself as an application that allows you to view your data in a variety of ways. So far, this is no different from Jasper Reports or BIRT (which, despite its name, appears to provide very few BI elements).
He does this by modeling data (models are created using the Framework Manager, so we use it on top of the standard reporting interface) to translate raw data into business data, as well as relational size data, if your database has not yet been created dimensional.
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