Altair Monarch vs. IBM SPSS Modeler

The product is especially useful when you have real-time and/or time series data to analyze. If you have more mundane, simpler requirements, other products might do the job you need for less money (there are even some decent open source visualization tools you can find.) I know the product is very widely used in capital markets applications to monitor and analyze risk and price and volume changes; if you're working in that area, I don't think there's a better tool to use.

Incentivized

Fast NLP analytics are very easy in SPSS Modeler because there is a built-in interface for classifying concepts and themes and several pre-built models to match the incoming text source. The visualizations all match and help present NLP information without substantial coding, typically required for word clouds and such. SPSS Modeler is good at attaining results faster in general, and the visual nature of the code makes a good tool to have in the data science team's repository. For younger data scientists, and those just interested, it is a good tool to allow for exploring data science techniques.

Incentivized

• Creating a basic model to extract data from a report is very easy.
• Advanced features like Calculated Fields and External Lookups allow you to augment the raw data.
• You can create a "project" to automate the data extraction. Combined with Datapump (a separate DW app), you can fully automate the process once the raw report is generated.

Incentivized

• Combine text and data
• Provide facilities for all phases of the data mining process.
• Use a node and stream paradigm to easily and quickly create models.

Incentivized

• Recently, we had some major sticker-shock when we wanted to upgrade Data Pump. It is an exceptional product, but when the price jumped from $6,000 to over $60,000, it was impossible to get the funds approved internally for the upgrade.
• We also paid for yearly maintenance contracts which included Professional Services, but rarely found those services beneficial. However, we did receive all software upgrades for Datapump as part of the contract which we found to be very beneficial. However, with the new pricing, that is not longer the case.

Incentivized

• Has very old style graphs, with lots of limitations.
• Some advanced statistical functions cannot be done through the menu.
• The data connectivity is not that extensive.
• It's an expensive tool.

Incentivized

Even though we do not utilize it on a daily basis, I do hope my current company renews it's license. If not, I intend to purchase myself.

Incentivized

It is fairly user friendly, with limited practice. Similar to many statistical programs it requires a little time to get comfortable with, but once you use if for a project, the second time around is much easier.

Incentivized

The online support board is helpful and the free add ons are incredibly appreciated.

Incentivized

Datawatch is very good value of money compared to QlikView; QlikView is really more of a BI tool and has a lot of functions that I didn't need. Datawatch is very strong in the real-time area where Tableau, Panorama, and Qlik don't do very well. If you need to set up a visual monitoring dashboard, Datawatch is the best product I've seen for that. if you want to do a lot of in depth statistical analysis of large databases, Tableau is probably a good option.

Incentivized

When it comes to investigation and descriptive we have found SPSS Statistics to be the tool of choice, but when it comes to projects with large and several datasets SPSS Modeler has been picked from our customers.

Incentivized

• Data Pump reduces complexity of report solutions by offering a standardized approach for organizing and scheduling
• 97% service level for past 5 years for all of our jobs going through Data Pump

Incentivized

• Positive - Ease of decision making and reduction in product life cycle time.
• Positive - Gives entirely new perspective with the help of right team. Helps expanding the portfolio.
• Negative - Needs to have good understanding about mathematical modelling, of which talent is rare and expensive. Hence, increase the costs for R&D and manpower.

Incentivized