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IBM Planning Analytics vs Workday Prism Analytics comparison

 

Comparison Buyer's Guide

Executive Summary

Review summaries and opinions

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

Categories and Ranking

IBM Planning Analytics
Average Rating
8.4
Reviews Sentiment
6.8
Number of Reviews
25
Ranking in other categories
Business Performance Management (4th)
Workday Prism Analytics
Average Rating
8.6
Reviews Sentiment
7.6
Number of Reviews
5
Ranking in other categories
BI (Business Intelligence) Tools (17th)
 

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 6.4%, down 9.6% compared to last year.
Workday Prism Analytics, on the other hand, focuses on BI (Business Intelligence) Tools, holds 1.6% mindshare, up 1.3% since last year.
Business Performance Management Market Share Distribution
ProductMarket Share (%)
IBM Planning Analytics6.4%
Anaplan10.3%
Oracle Hyperion8.1%
Other75.19999999999999%
Business Performance Management
BI (Business Intelligence) Tools Market Share Distribution
ProductMarket Share (%)
Workday Prism Analytics1.6%
Microsoft Power BI14.5%
Tableau Enterprise11.0%
Other72.9%
BI (Business Intelligence) Tools
 

Featured Reviews

Gnanavel-Chakkarapani - PeerSpot reviewer
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.
Anirban Chatterjee - PeerSpot reviewer
Provides superior integration capabilities and ability to handle complex data transformations 
One area for improvement in the solution is the ability to manually update individual rows or columns of data once it has been uploaded. Any correction requires reloading the entire dataset from the source, which can be inefficient. They should include a feature for granular data updates, allowing users to edit specific entries without reloading entire datasets.

Quotes from Members

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

Pros

"Its stability helps controllers win time in their planning processes."
"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 scenario modeling capabilities are frequently used to create different scenarios, compare them, and see which action leads to which result."
"The product's stability is good."
"Planning Analytics' best features include automatic updates and slicing."
"The tool is flexible."
"It's a very stable, robust product."
"The product is easier to use compared to other applications."
"The customer service and support are pretty good."
"Feature-wise, I feel that the solution's stability is good."
"I really like the flexibility the solution provides in terms of data transformation."
"The solution is stable and reliable, with minimal issues affecting its performance."
 

Cons

"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."
"Adding predefined templates could be beneficial."
"It's wonky, and not super user-friendly with Excel."
"It would have been better if the solution was not just a tool kit."
"If we talk only about the TM1 engine, it's quite rich and possibly too rich, making it complex to perform simple tasks."
"The local authentication part is difficult to manage in the product, making it an area where improvements are required."
"The dashboard is very poor and needs a lot of improvement."
"The tool should include features for prediction. It can also improve the scalability."
"It is not a very scalable product."
"One area for improvement in the solution is the ability to manually update individual rows or columns of data once it has been uploaded."
"When you create certain objects, a lot of the time, the fields are text. They’re not numeric, date, or any other field type"
"The visualization techniques must be upgraded."
"There is not much flexibility in how we can add external data within Workday Prisma Analytics."
 

Pricing and Cost Advice

"I would rate the tool's pricing a nine out of ten since it's expensive."
"It is a bit expensive, but you get what you are paying for."
"Compared with the other tools in the market, IBM Planning Analytics is a bit expensive."
"The license of this solution is paid annually. Most of my customers choose a license that includes support."
"Our licensing cost is approximately $50,000.00 per year."
"IBM Planning Analytics is priced well, and licensing costs are yearly."
"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."
"I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules."
"Based on whatever I have heard, Workday Prism Analytics is considered an expensive tool."
"The solution is very expensive."
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Top Industries

By visitors reading reviews
Financial Services Firm
16%
Manufacturing Company
11%
Retailer
7%
Computer Software Company
7%
Financial Services Firm
12%
Insurance Company
8%
Healthcare Company
8%
Computer Software Company
8%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
By reviewers
Company SizeCount
Small Business16
Midsize Enterprise4
Large Enterprise7
No data available
 

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?
While IBM's solutions were costly before, the introduction of SaaS models has reduced prices significantly. Comparatively, IBM rates may be better than those of competitors, such as Hyperion ( /pro...
What needs improvement with IBM Planning Analytics?
IBM is behind competitors like Tableau ( /products/tableau-reviews ) and Power BI in terms of visualization. Their visuals are less innovative and practical with fewer varieties. IBM's visualizatio...
What is your experience regarding pricing and costs for Workday Prism Analytics?
Based on whatever I have heard, Workday Prism Analytics is considered an expensive tool. In fact, that has been one of the hindrance factors for Workday in making Prism Analytics more sellable.
What needs improvement with Workday Prism Analytics?
I think there are still some gaps in the solution. There is not much flexibility in how we can add external data within Workday Prisma Analytics. For now, Workday has enabled the SFTP server and Am...
What is your primary use case for Workday Prism Analytics?
As a consultant, I use Prism Analytics to implement my client systems. I first have design sessions with them, where we discuss their business gaps and then understand how Workday Prism Analytics c...
 

Also Known As

Cognos TM1, IBM Cognos TM1
Prism Analytics
 

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
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