Difference Between Hyperion & Cognosby Amy Adkins
Smart business decisions are based on more than just guesswork and estimates. Business intelligence combines reporting, analytics, strategic planning and data mining to help your company make informed decisions. At first glance, creating and managing business intelligence might seem like an overwhelming task, but software like Hyperion and Cognos helps streamline and organize processes. Hyperion and Cognos offer many of the same features, but you may find one is better suited to your company's needs than the other.
Oracle's Hyperion offers an enterprise solution set for performance management and business intelligence. For performance management, Hyperion includes multiple applications for strategy management, financial close and reporting, profitability and cost management, planning, budgeting and forecasting. These applications can work as standalone solutions or in tandem with each other. They also work with Hyperion's business intelligence tools, applications and online analytical processing server. In comparison, IBM's Cognos also offers software for financial management and business intelligence. Cognos includes four dedicated products: Cognos Business Intelligence, Cognos Express for mid-sized companies, Cognos TM1 for enterprise forecasting and budgeting, and the Cognos Platform to support business intelligence architecture and deployment.
Time is of the essence is nearly every company. Hyperion offers a proprietary in-memory analytics machine that combines software and hardware to produce visual analytics quickly. Other business intelligence tools provide reporting, ad hoc queries, dashboards and scorecards along with performance management solutions for workforce planning, capital asset planning, financial management and data-quality management. Recognizing you may have data stored in multiple and diverse applications, Hyperion also provides universal access to data types found outside of Oracle products. You can then bring these sources into your analytics and reporting to create a more comprehensive picture. In addition, Hyperion is accessible via mobile devices and integrates with Microsoft Office.
Like Hyperion, Cognos offers reporting, analysis, scorecard and dashboard functionality through its business intelligence module. Business intelligence capabilities also include built-in collaboration and social networking elements not found in Hyperion. You can use Cognos to form communities, share ideas, develop blogs and wikis, and tag and comment. With the performance management software, you have the ability to conduct financial forecasting, budgeting and planning. Cognos also includes mobile compatibility similar to Hyperion, but integrates only with Microsoft Excel whereas Hyperion is compatible with the wider Microsoft Office suite.
Both Hyperion and Cognos develop targeted solutions for specific clients. Hyperion Enterprise for Midsize Organizations is designed to help financial and frontline managers with reporting and analytics, and can be implemented on a single computer or a somewhat larger scale with limited support from the IT department. Hyperion's Business Intelligence Standard Edition One supports from five to 50 users in companies that need a more comprehensive business intelligence approach. Specific analytics modules can also be implemented for human resources, finance, sales, marketing, project management, customer service and procurement departments. Cognos has its own dedicated solution for midsize companies -- Cognos Express -- with four specific modules for reporting, analysis, optimization and planning. Cognos Express comes preconfigured to help ease the installation process.