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IBM Planning Analytics vs IBM Watson Explorer comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

IBM Planning Analytics
Average Rating
8.6
Number of Reviews
23
Ranking in other categories
Business Performance Management (4th)
IBM Watson Explorer
Average Rating
8.4
Number of Reviews
10
Ranking in other categories
Data Mining (10th)
 

Mindshare comparison

While both are Business Intelligence solutions, they serve different purposes. IBM Planning Analytics is designed for Business Performance Management and holds a mindshare of 9.6%, up 8.3% compared to last year.
IBM Watson Explorer, on the other hand, focuses on Data Mining, holds 0.8% mindshare, down 0.9% since last year.
Business Performance Management
Data Mining
 

Featured Reviews

Gnanavel-Chakkarapani - PeerSpot reviewer
Mar 22, 2024
Can easily create dashboards and helps businesses improve forecasting accuracy
The product has improved our company's forecasting accuracy since it serves as a very useful tool for our sales and controller teams as they easily get to enter the inputs using views in TM1, which gets loaded into our main database. If there are sales team members in different parts of the world, like in Hong Kong and Singapore, they may prefer to use IBM Planning Analytics, which is easy to use when compared to the Excel tool. Speaking about planning analytics and data analysis, I would say that our company used to use IBM Cognos Analytics for reporting, where we used to use Cognos Dynamic Cubes so that users can easily use its drag and drop features while getting to see the data for which the users had to wait for two to three minutes prior to its use. In our company, tons of data are loaded into the memory, and users can use Cognos Dynamic Cubes to analyze data and understand it. The AI capabilities of IBM have benefited our planning strategy as they are very useful for business. The tool allows the easy creation of dashboard reports using AI capabilities. No technical knowledge is required for business use cases. It is possible to integrate the product in scenarios where some new integrations are available. I remember that my company used Azure Data Factory to connect Azure, Oracle, and IBM WebSphere Application Server. When it comes to IBM Planning Analytics, it is complex to integrate it with LDAP and or any other authentication tool offered by Microsoft. In our company, some users like to integrate IBM Planning Analytics with the common LDAP or Microsoft AD, which we currently use for all our applications. The authentication part is difficult to configure with IBM Planning Analytics. The maintenance of the product is easy. My company has scheduled maintenance on the product every week, especially during forecast times, so that memories automatically lapse and users can freely access their servers. The use of the tool has had an impact on collaboration within our company's planning team since everyone knows how to easily access the data and publish the results. I recommend the product to those who plan to use it. I rate the tool a nine out of ten.
it_user840897 - PeerSpot reviewer
Mar 27, 2018
Ingests, retrieves information from a range of sources; enables dissecting questions in context and answering them
WEX is more a platform, I believe, than it is the application. I could talk about what I'm looking for in the application. We've done visualizations and we can do basic analysis with the system as it stands. Where we're looking to take it is implementing it into workflows, so the workers on the line can actually understand the risks that they're exposing themselves to and then address them on the fly. So that's fantastic. And then the final one is, it's not prediction, but maybe anticipation. So when people are put at risk, we'll be implementing solutions shortly that will help people anticipate the risks and the dangers they're exposing themselves to so they can control them.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"The tool is flexible."
"The scenario modeling capabilities are frequently used to create different scenarios, compare them, and see which action leads to which result."
"It's a very stable, robust product."
"A lot of the platform is in-memory, so Planning Analytics can run calculations quite fast. It also offers several user interfaces. And in the newest version of Planning Analytics, there is a new one called the Planning Analytics Workspace. Maybe it could be useful for the business side."
"The most valuable features of IBM Planning Analytics for streamlining planning processes include a unified database where all data are centralized."
"IBM Planning Analytics is easy to use and deploy. It is quick to develop. The calculation machine is also very fast."
"The most valuable feature is that it is able to slice and dice the data."
"Planning Analytics' best features include automatic updates and slicing."
"I have found the auto-generated document very useful as well as the main keywords that are highlighted, which are used for the search functionality within IBM Watson Explorer."
"For me, as a user, the most valuable feature is the ability to ingest and then retrieve information from a range of separate sources; the ability to dissect questions in context and actually answer them."
"Ease of use is pretty good as is the standardization of not actually having to have my own natural learning algorithms, just to use the Watson APIs."
"The ability to easily pull together lots of different pieces of information and drill down in a smarter way than has been possible with other analytics tools is key. Watson is all based on a set of AI and deep learning, machine-learning capabilities, and it is looking behind the scenes at some relationships that you likely would not have spotted on your own. It's pulling things together, categorizing some things, that are not something that you might have seen on your own."
"The valuable feature of Watson Explorer for us is data entities, and to see the hidden insights from within unstructured data."
"We take natural language that was happening in our repositories and our application and then feed it to the Watson APIs. We receive JSON payloads as an API response to get cognitive feedback from the repository data."
 

Cons

"The tool's transport layer could be improved when promoting development between environments."
"It's wonky, and not super user-friendly with Excel."
"The new frontend Planning Analytics Workspace is not very good, it could be improved. I like the Planning Analytics functionality but it would be helpful if it could be more customizable. You can create a prediction and receive information but you cannot do feature engineering regarding the predictive models. If this was added it would be helpful."
"The local authentication part is difficult to manage in the product, making it an area where improvements are required."
"Extracting data is a little slow."
"The tool should include features for prediction. It can also improve the scalability."
"The workspace API should be improved and documented so we know better which objects are used."
"It's highly competitive right now, and all the vendors are in a race to put out new versions with additional features. IBM comes out with new versions too often, and it has an impact on quality."
"Small businesses will probably have a little harder time getting into it, just because of the amount of resources that they have available, both financial and time, but it really is a solution that should work for them."
"More cognitive feedback would be good. The natural language analysis is great, the sentiment analyzers are great. But I would just like to see more... innovation done with the Watson platform."
"Much of IBM operates this way, where they have sets of tools that are in the middleware space, and it becomes the customer's responsibility or the business partner's responsibility to develop full solutions that take advantage of that middleware. I think IBM's finding itself in that spot with Watson-related technologies as well, where the capabilities to do really interesting and useful things for customers is there, but somebody still has to build it. Is that going to be the customer? Are they going to be willing to take on that responsibility themselves"
"The solution is expensive."
"Stability is actually one of the areas that could use improvement. Setting it up is always tough. Setting Explorer requires experts, but also the underlying platform is not that stable. So it really needs a good expert to keep it running."
"It is a little bit tricky to get used to the workflow of knowing how to train Watson, what can be provided, what can't be, how to provide it, how to import, export, and what it means every time you have to add a new dictionary"
"It needs better language support, to include some other languages. Also, they should improve the user interface."
"I would say, give some kind of a community edition, a free edition. A lot of companies do, even Amazon gives you some kind of trial and error opportunities. If they could provide something like that, it would be good."
 

Pricing and Cost Advice

"Our licensing cost is approximately $50,000.00 per year."
"IBM Planning Analytics is not the cheapest solution, but it's priced per the market standard for this type of solution. I rate the price at seven out of ten."
"It is a bit expensive, but you get what you are paying for."
"The license of this solution is paid annually. Most of my customers choose a license that includes support."
"I would rate the tool's pricing a nine out of ten since it's expensive."
"IBM Planning Analytics is priced well, and licensing costs are yearly."
"Compared with the other tools in the market, IBM Planning Analytics is a bit expensive."
"The solution is expensive."
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Top Industries

By visitors reading reviews
Educational Organization
46%
Financial Services Firm
10%
Computer Software Company
7%
Manufacturing Company
6%
Computer Software Company
19%
Educational Organization
12%
Outsourcing Company
12%
Financial Services Firm
10%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
 

Questions from the Community

What do you like most about IBM Planning Analytics?
The most valuable features of IBM Planning Analytics for streamlining planning processes include a unified database where all data are centralized.
What is your experience regarding pricing and costs for IBM Planning Analytics?
The cost of IBM Planning Analytics is not cheap, considering the amount of money involved. However, it offers good ROI for customers.
What needs improvement with IBM Planning Analytics?
The workspace API should be improved and documented so we know better which objects and tier-one objects are used.
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Also Known As

Cognos TM1, IBM Cognos TM1
IBM WEX
 

Learn More

 

Overview

 

Sample Customers

ManpowerGroup, Convergys, AIG, Orchard Brands, Citibank, InterGen, Northwestern University, EF Education First, Ironside, Bazan Group, CSOB Insurance, Macquarie Group, Charles Stanley, SATO, Government of Sint Maarten, BMW Financial Services
RIMAC, Westpac New Zealand, Toyota Financial Services, Swiss Re, Akershus University Hospital, Korean Air Lines, Mizuho Bank, Honda
Find out what your peers are saying about Anaplan, Oracle, IBM and others in Business Performance Management. Updated: October 2024.
814,649 professionals have used our research since 2012.