IBM Planning Analytics vs Workday Prism Analytics comparison

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2,270 views|1,328 comparisons
94% willing to recommend
Workday Logo
1,454 views|1,587 comparisons
100% willing to recommend
Comparison Buyer's Guide
Executive Summary

We performed a comparison between IBM Planning Analytics and Workday Prism Analytics based on real PeerSpot user reviews.

Find out what your peers are saying about Anaplan, Oracle, Jedox and others in Business Performance Management.
To learn more, read our detailed Business Performance Management Report (Updated: March 2024).
768,740 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"Planning Analytics' best features include automatic updates and slicing.""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""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 tool is flexible.""The most valuable feature is that it is able to slice and dice the data.""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."

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"Feature-wise, I feel that the solution's stability is good."

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Cons
"Planning Analytics could be improved by adding automation features.""It is a bit expensive, but it does the job.""The local authentication part is difficult to manage in the product, making it an area where improvements are required.""The tool's transport layer could be improved when promoting development between environments.""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 would have been better if the solution was not just a tool kit.""Extracting data is a little slow.""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."

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"It is not a very scalable product."

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Pricing and Cost Advice
  • "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."
  • "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."
  • "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."
  • More IBM Planning Analytics Pricing and Cost Advice →

  • "I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules."
  • More Workday Prism Analytics Pricing and Cost Advice →

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    Questions from the Community
    Top Answer:The licensing part of the product is good. Every year, there is a need to renew the license. My company also uses multiple functionalities offered under IBM Cognos Analytics for ETL-related purposes… more »
    Top Answer:The local authentication part is difficult to manage in the product, making it an area where improvements are required.
    Top Answer:Feature-wise, I feel that the solution's stability is good.
    Top Answer:I do not know of the licensing cost, but there are additional costs like 5,00,000 for recruitment modules.
    Top Answer: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 data… more »
    Ranking
    Views
    2,270
    Comparisons
    1,328
    Reviews
    4
    Average Words per Review
    325
    Rating
    9.3
    Views
    1,454
    Comparisons
    1,587
    Reviews
    1
    Average Words per Review
    563
    Rating
    7.0
    Comparisons
    Also Known As
    Cognos TM1, IBM Cognos TM1
    Prism Analytics
    Learn More
    Overview

    IBM Planning Analytics is an integrated planning solution that uses AI to automate planning, budgeting, and forecasting and drive more intelligent workflows.

    Built on TM1, IBM’s powerful calculation engine, this enterprise performance management tool allows you to transcend the limits of manual planning and become the Analytics Hero your business needs. Quickly and easily drive faster, more accurate plans for FP&A, sales, supply chain and beyond.

    With Workday Prism Analytics, you can bring data in at scale from any source and prepare, analyze, and securely share it with your organization. The result? You gain all the insights you need to drive better business outcomes.

    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
    Denny's
    Top Industries
    REVIEWERS
    Computer Software Company25%
    Non Tech Company13%
    Real Estate/Law Firm13%
    Leisure / Travel Company13%
    VISITORS READING REVIEWS
    Educational Organization43%
    Financial Services Firm10%
    Computer Software Company7%
    Manufacturing Company5%
    VISITORS READING REVIEWS
    Financial Services Firm11%
    Healthcare Company9%
    Computer Software Company8%
    Insurance Company8%
    Company Size
    REVIEWERS
    Small Business58%
    Midsize Enterprise17%
    Large Enterprise25%
    VISITORS READING REVIEWS
    Small Business11%
    Midsize Enterprise47%
    Large Enterprise43%
    VISITORS READING REVIEWS
    Small Business19%
    Midsize Enterprise15%
    Large Enterprise66%
    Buyer's Guide
    Business Performance Management
    March 2024
    Find out what your peers are saying about Anaplan, Oracle, Jedox and others in Business Performance Management. Updated: March 2024.
    768,740 professionals have used our research since 2012.

    IBM Planning Analytics is ranked 6th in Business Performance Management with 21 reviews while Workday Prism Analytics is ranked 26th in BI (Business Intelligence) Tools with 1 review. IBM Planning Analytics is rated 8.6, while Workday Prism Analytics is rated 7.0. The top reviewer of IBM Planning Analytics writes "Can easily create dashboards and helps businesses improve forecasting accuracy". On the other hand, the top reviewer of Workday Prism Analytics writes "A stable data analytics solution that needs some improvement with scalability and data visualization". IBM Planning Analytics is most compared with SAP Analytics Cloud, Microsoft Power BI, Anaplan, Jedox and IBM Cognos, whereas Workday Prism Analytics is most compared with Microsoft Power BI, Tableau, Oracle Analytics Cloud, Databricks and Oracle Essbase.

    We monitor all Business Performance Management reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.