Hi,
Which flavour of Monitoring you have activated.
Normal, BW Alerting, Analytics?
Could you paste the screenshot of the same?
Go to Business Process Operation Workcenter--> Select Setup Buiness Process monitoring--> Select the solution-->Select the Logical component--> then in result window go to setting and select flavour.
There is you see analytics as the flavour for the MO that you have activated or not.
Regards
Abhishek