Value for money!
Updated November 05, 2023

Value for money!

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with KNIME Analytics Platform

Internal Audit needs to identify the exceptions in the data to address the risks. These risks could be coming from IT or Business. So, we collect data from various systems on daily basis and analyze the data to discover the exceptions and email them to the respective auditors for tracking and closing them. Almost 90 workflows are automated to run on daily basis. Beyond this, weekly, monthly and quarterly reports are generated and shared with the auditors. KNIME Analytics Platform is also used to prepare management dashboards to understand the risk trends. We also use KNIME Analytics Platform to conduct Data Science activities and identify the trends in the data. In many investigation cases, we need to relate data and identify the issues. We use KNIME Analytics Platform for this activity as well.

Pros

  • Extraction, Transformation and Loading
  • Integration with Python
  • Loading millions of records for analysis
  • Connectivity with Databases
  • Job Scheduling

Cons

  • Managing Date and Time functionality
  • Compatibility between Sever and AP
  • KNIME Analytics Platform is free; hence it is used by all auditors without any cost. At least I saved USD 10K per year if I consider the same number of users who were using the previous tool. With this tool even a regular financial auditor is also using the tool.
Alteryx is a very similar product, almost all the things that are achievable in KNIME Analytics Platform can be done in Alteryx as well, but you have to pay for the Desktop version to conduct the analysis. But with KNIME Analytics Platform it is totally free and can be used anyone who wants to perform analysis on their own. Dataiku is also a very powerful product, but we felt there are two main disadvantages with Dataiku. Everything has to be done only on the server. There is no desktop version for Dataiku. This could be advantageous to some, but it isn't for us. The product is very expensive.

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?

Yes

Did implementation of KNIME Analytics Platform go as expected?

Yes

Would you buy KNIME Analytics Platform again?

Yes

When you have data in tabular form and it needs to be analyzed, KNIME Analytics Platform is a best fit. If fact many times, my team goes to KNIME Analytics Platform to read the data from table rather than going to a DB tool such as SQL Developer because it is easy to manage and it also avoids fear of changing data at the source system unintentionally. Once the data is retrieved, play around with the data and simply close it. The team do not need to write many varieties of queries to extract the data. Data Apps can be improved, and it is considered one of the critical items. Similarly, there is no easy way to encrypt data and store in the database.

KNIME Analytics Platform Feature Ratings

10.0
Connect to Multiple Data Sources
10
Automatic Data Format Detection
10
9.0
Visualization
9
Interactive Data Analysis
9
9.5
Interactive Data Cleaning and Enrichment
10
Data Transformations
9
9.0
Multiple Model Development Languages and Tools
9
Automated Machine Learning
9
Single platform for multiple model development
9
9.0
Flexible Model Publishing Options
9

Using KNIME Analytics Platform

  • 3 members are core users who develop workflows to upload to server
  • Rest members uses Knime AP for either ad hoc analysis or consume reports from the server
2 - Primarily 2 individuals support the development of workflows, testing and uploading to the server. These two individuals collect requirements, develop the workflows deploy them, test them and get user sign-off.
  • Ad hoc analysis
  • Automation of frequently used reports
  • Data extraction and transformation
  • Identifying exceptions on daily basis using the Knime server
  • Identifying the control failures using AI features
We are happy with Knime product and their support. Knime AP is versatile product and even can execute Python scripts if needed. It also supports R execution as well; however, it is not being used at our end.

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