Item: KNIME Analytics Platform
Rating: 10
Author: Marc Cooley

Use Cases and Deployment Scope

KNIME Analytics Platform is the central data processing system we use in our consulting work with financial institutions. We have found the flexiaibity, integration with other systems such as SQLite, Python, etc. to be a great advantage. The self documenting nature of the GUI is awesome and eliminates a task no one wants to do (documentation). Access to AI machine learning tools is another bonus we are also exploiting to a great advantage.

Pros and Cons

Summarize instrument level financial data with relevant statistics
Map transactions from core extracts to groups of like transactions using rule engines
Machine learning using random forests and other techniques to analyze data and identify correlations for use in predictive models
Fill out sampling data from averages.

The Excel reader node doesn't always reset. Sometimes the node has to be rebuilt or reconfigured to truely reset the node. This can trip you up if you're not aware of it.
Basic filtering in table view. Sure you just add a filter node, but it would be cool if the data tables worked more like tables in Excel where you can filter as well as sort.

Return on Investment

Signficantly reduced training time for new anaysts. This is due to the self documenting nature of the GUI.
Improved turnaround time on standardized client work.
Reduced time spent in development since the focus can be on what is being done, not the syntax of the code.

Alternatives Considered

SQLite, Microsoft Excel and Microsoft Access

SQLite is an easy to use SQL interface, but it is still SQL and not GUI like KNIME
Microsoft Excel as the advantage of being universally known, but when VBA code is needed for complex tasks it can become unstable and slow
Microsoft Access is an entry level DB that is easy to use and has a nice GUI. However, it gets really slow for large tables which we frequently work with. It craps out at about 500,000 records and 50 fields.

Key Insights

Do you think KNIME Analytics Platform delivers good value for the price?

Yes

Are you happy with KNIME Analytics Platform's feature set?

Yes

Did KNIME Analytics Platform live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of KNIME Analytics Platform go as expected?

Yes

Would you buy KNIME Analytics Platform again?

Yes

Other Software Used

Microsoft Office 365, HubSpot CRM, ClickUp, Google Drive, Adobe Acrobat

Likelihood to Recommend

KNIME Analytics Platform has vastly improved our effectiveness when working with large data sets. The self documenting GUI allows analysts to focus on what they are trying to accomplish, not complex code syntax. If we were to use traditional tools, like SQL, work would take much longer and it would be more difficult to collaborate both internally and with clients. Since KNIME Analytics Platform is database oriented, some spreadsheet functions are not supported, which is as it should be. For small data sets we often use Excel vlookup and pivot tables in place of KNIME Analytics Platform. If VBA code is requried, we go to KNIME Analytics Platform as we find VBA to be unstable in Excel.

KNIME Analytics Platform Makes Life Easier and More Fun

Overall Satisfaction with KNIME Analytics Platform