Organization collects seventh patent for technology designed to make business analytics easier
August 13, 2013 – Boston, Mass. – TARGIT, a developer of business intelligence and analytics solutions for businesses worldwide, has been awarded its seventh U.S. Patent. The patented hyper-relations technology, which is at the heart of TARGIT’s Decision Suite software, enables users to navigate seamlessly from static reports to dynamic analyses with only a single click.
While it’s often easy to see if you have achieved your business goals, it may be harder to get a thorough overview of your organization. Why do some of the figures and data look different from how you expected? This challenge has been solved by TARGIT through the invention of hyper-relations technology, which was recently awarded a patent in the US. Including this new patent, TARGIT has seven patents in the US and 25 patents worldwide.
At the heart of hyper-relations technology is a reduction of the large amounts of data required to learn the fine details about your business. Consider, if you’re a CFO in a large company and you’re doing a quarterly report including massive amounts of transactions and information, hyper-relations technology can help transform all of that information into simple figures. And with one click, you can navigate from the report to the analysis behind it to interpret the underlying data. Users can create any analysis desired with a single click.
“There is a great amount of hidden value in the fact that you’re able to analyze the ‘figures behind the figures’, and hyper-relations technology makes it easy to get the extra insight. The technology can, for instance, be applied when you want to find out why you’re missing your objectives in areas that are critical to your business,” said TARGIT CTO Morten Middelfart, the brain behind hyper-relations technology. Middelfart has been in charge of the development of the other patented TARGIT technologies.
IT helps you feel comfortable when making decisions
TARGIT’s patented technologies all have easier decision-making capabilities in common, supporting the company’s vision of making business analysis available to everyone in an organization, not just the IT experts. Morten Sandlykke, TARGIT’s CEO explains:
“If technology gets too complicated, a common result is that only a chosen few will benefit from using it, or some in the organization will feel they can’t trust the information on which the business decisions were based. Both scenarios put a limit to the courage to act, especially when it’s the most important and most courageous decisions that need to be made. We are all scared of changes, but a well-documented and intelligible argument for acting will beat the fear.”
Among the users of TARGIT’s hyper-relations technology are Kelly Tractor, Nissin, Weber Grills, Pizza Hut and the City of Copenhagen, Denmark.
Read more about the patented technology.