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IBM Planning Analytics vs Workday Prism Analytics 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)
Workday Prism Analytics
Average Rating
8.6
Number of Reviews
5
Ranking in other categories
BI (Business Intelligence) Tools (14th)
 

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.
Workday Prism Analytics, on the other hand, focuses on BI (Business Intelligence) Tools, holds 1.5% mindshare, up 1.2% since last year.
Business Performance Management
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.
Sarvesh Kumar Jha - PeerSpot reviewer
Provides great flexibility in terms of data transformation
I really like the flexibility the solution provides in terms of data transformation. Workday introduced Prism Analytics mainly because many clients wanted to merge data from different systems and then work with it to get some insights out of it. For that, they previously used tools like Power BI. Workday Prism Analytics gives you the power to do all the data transformations within Workday itself without taking out crucial data to a third system. I really like the way Workday has enabled Prism Analytics to be that one solution where you can bring everything. It also provides you the flexibility that things like the security model of Workday are still in place. You don't have to redo your security configuration if you do the data transformation outside Workday.

Quotes from Members

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

Pros

"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 product's stability is good."
"The ease of use is valuable. The fact that it's plugged into Excel spreadsheets is also valuable. It provides additional functionality where you can slice and dice the information in a way that you can't do with spreadsheets"
"IBM Planning Analytics is easy to use and deploy. It is quick to develop. The calculation machine is also very fast."
"The most valuable features of IBM Planning Analytics for streamlining planning processes include a unified database where all data are centralized."
"The flexibility of IBM Planning Analytics is a great feature of this solution. The design flexibility with data rules and defining calculations The ability to combine online and offline calculations are a benefit. Additionally, the forecasting features and predictive analytics is very good."
"All the different platforms are well integrated."
"Feature-wise, I feel that the solution's stability is good."
"The customer service and support are pretty 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."
"The product is easier to use compared to other applications."
 

Cons

"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."
"Adding predefined templates could be beneficial."
"The local authentication part is difficult to manage in the product, making it an area where improvements are required."
"The tool should include features for prediction. It can also improve the scalability."
"Planning Analytics could be improved by adding automation features."
"The tool's transport layer could be improved when promoting development between environments."
"The dashboard is very poor and needs a lot of improvement."
"Extracting data is a little slow."
"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."
"It is not a very scalable product."
"There is not much flexibility in how we can add external data within Workday Prisma Analytics."
"One area for improvement in the solution is the ability to manually update individual rows or columns of data once it has been uploaded."
 

Pricing and Cost Advice

"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."
"It is a bit expensive, but you get what you are paying for."
"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."
"Our licensing cost is approximately $50,000.00 per year."
"The license of this solution is paid annually. Most of my customers choose a license that includes support."
"I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules."
"The solution is very expensive."
"Based on whatever I have heard, Workday Prism Analytics is considered an expensive tool."
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Top Industries

By visitors reading reviews
Educational Organization
47%
Financial Services Firm
9%
Computer Software Company
7%
Manufacturing Company
6%
Computer Software Company
9%
Financial Services Firm
9%
Insurance Company
8%
Healthcare Company
7%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
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?
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.
What do you like most about Workday Prism Analytics?
Feature-wise, I feel that the solution's stability is good.
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...
 

Also Known As

Cognos TM1, IBM Cognos TM1
Prism Analytics
 

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
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