Reporting alternatives

Hi,

We are looking for reporting tool alternatives that anyone has tried instead of cognos. Out of few options as below:

1. Use Cognos – Integrated with Windchill.
2. Use Query builder/Data monitors.
3. Create our own design and render using jsp and xsl templates.
4. Any other industry recommended reporting tools that will work with windchill

Does anyone have firm opinion of one versus other? Looking for a unified reporting design approach ideas that will help in long run for development and maintenance.

Thanks in advance,

-Chetan