The best replacement for business objects is cognos.

The best alternatives to business objects are rated as following:
★★★★★  cognos
★★★  crystal reports
★★★  microstrategy
★  obiee
★  hyperion
★  tableau
★  qlikview
★  business intelligence
★  ssrs
★  webfocus
★  microsoft bi
★  spotfire
  oracle discoverer
  bex
  business warehouse
  pentaho
  data objects
  actuate
  informatica
  cognos 10
  brio
  microsoft reporting services
  discoverer
  oracle bi
  reporting services
  jaspersoft

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Speaking about business objects, one probably shouldn't forget about sap hana.

Other search terms related to business objects and their ratings are:
★★★★★ sap hana
★ bw
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Google Trends

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business objects
cognos
crystal reports