There are two primary steps to a Migration in V1, with many tedious "sub-steps".
The First step in the process is to Migrate the Application, this part of the process migrates:
The Second, (more tedious), step is to Migrate the Data, which accomplishes migrating the following:
The "PerformancePoint Server 2007 Planning Data Migration Tool" automates the Second set of steps, the "Data Migration" portion. The full manual process, (which requires the user to have intricate knowledge of the application), is documented in the TechNet Documentation located here:
There are numerous steps in each of the above two sections which need to be followed extremely carefully in order for the Data to be properly migrated into the Target Application.
The "PerformancePoint Server 2007 Planning Data Migration Tool" fully automates each of these two steps.
Note that the Application Migration, as well as the Backup \ Restore of the Staging DB from Source to Target are still manual procedures. Please refer to the above documentation to fully understand all the steps involved.
Note: The following will NOT migrate in V1