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
22
Ranking in other categories
Business Performance Management (5th)
Workday Prism Analytics
Average Rating
7.0
Number of Reviews
1
Ranking in other categories
BI (Business Intelligence) Tools (24th)
 

Market share comparison

As of June 2024, in the Business Performance Management category, the market share of IBM Planning Analytics is 8.8% and it increased by 0.4% compared to the previous year. The market share of Workday Prism Analytics is 0.3% and it increased by Infinity% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Business Performance Management
Unique Categories:
No other categories found
BI (Business Intelligence) Tools
1.8%
 

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.
Gareth Jackson - PeerSpot reviewer
May 19, 2023
A stable data analytics solution that needs some improvement with scalability and data visualization
We use it as an HR system and as a recruitment system. But we don't use it for anything else. We don't use it for our workforce planning. Just the For HR, and recruitment. I primarily use the solution for data analytics. So I could have managed to get used to the business processes and extract data…

Quotes from Members

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

Pros

"IBM Planning Analytics is easy to use and deploy. It is quick to develop. The calculation machine is also very fast."
"It's a very stable, robust product."
"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."
"Navigating through the data to make analysis is really quick."
"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"
"The tool is flexible."
"The most valuable feature is that it is able to slice and dice the data."
"Feature-wise, I feel that the solution's stability is good."
 

Cons

"Planning Analytics could be improved by adding automation features."
"Extracting data is a little slow."
"The dashboard is very poor and needs a lot of improvement."
"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."
"It's wonky, and not super user-friendly with Excel."
"The tool should include features for prediction. It can also improve the scalability."
"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."
"It would have been better if the solution was not just a tool kit."
"It is not a very scalable product."
 

Pricing and Cost Advice

"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."
"I would rate the tool's pricing a nine out of ten since it's expensive."
"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."
"IBM Planning Analytics is priced well, and licensing costs are yearly."
"I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules."
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Top Industries

By visitors reading reviews
Educational Organization
43%
Financial Services Firm
11%
Computer Software Company
7%
Manufacturing Company
5%
Financial Services Firm
10%
Healthcare Company
8%
Computer Software Company
8%
Insurance Company
8%
 

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?
To improve IBM Planning Analytics, adding predefined templates could be beneficial. These templates could cover various business areas like volume planning, service levels, and more. Specific templ...
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?
I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules.
What needs improvement with Workday Prism Analytics?
I think you need to get some data visualizations or some sort of schema that you can print to see the relationships or the different business objects and IDs. I tried to be able to use the useful d...
 

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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