Could you please explain the main differences between CA Spectrum and other monitoring tool like (IBM tivoli netcool omnibus).
A one to one comparison is not quite possible in communities , but google might have few articles with the feature comparisons . Are you looking to know about any specific feature?
Can we monitor applications using CA Spectrum or it is possible to monitor only devices.
What applications are you referring to ? There are few AIM's in spectrum which does the monitoring for few applications like the vmware
If you are primarily looking for application monitoring , CA UIM would be a recommended choice