The best replacement for cognos is business objects.

The best alternatives to cognos are rated as following:
★★★★★  business objects
★★★★  hyperion
★★★  microstrategy
★★★  sas
★★  ssrs
★★  crystal reports
★★  obiee
★★  tableau
★  qlikview
★  sap
★  bo
★  informatica
★  spotfire
★  pentaho
★  sap bi
★  birt
★  essbase
★  crystal
  oracle bi
  webfocus
  microsoft bi
  brio
  spss
  impromptu
  crystal report
  ssas
  business object
  actuate
  hyperion planning

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Speaking about cognos, one probably shouldn't forget about sap bw.

Other search terms related to cognos and their ratings are:
★★★★★ sap bw
★★★ sap hana
★ tm1
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Google Trends

Scale is based on the average worldwide traffic of cognos in all years. Click on graph for more.
cognos
business objects
hyperion