Streamlining Reporting and Analysis
Novenco manufactures high-quality industrial fans designed for efficiency and longevity. Teams invest time into familiarizing themselves with their customers' use cases and applications so that they can deliver turnkey products across various markets and industries.
Novenco relies on multiple sets of data reports and analyses at every level of their organization to effectively evaluate consumer needs, product information, and market conditions. Decades ago, they chose TARGIT Decision Suite due to its ability to quickly and accurately extract insights, so leadership teams could easily analyze critical data points within the decision window.
Jacobsen’s team uses TARGIT to describe and define KPIs alongside the larger organization. Then, they develop and maintain analyzes and reports for various departments. Since most TARGIT users at Novenco rely on data to make decisions, they use the BI platform to distribute reports efficiently and ensure everyone has access to the right information at the right time.
Novenco has also relied on TARGIT in conjunction with TimeXtender to generate Extract, Transact, Load (ETL) from translate source data into the creation of cubes. TimeXtender is currently Novenco’s defacto backend in their BI solution, and TARGIT is the user interface that makes drilling and analyses possible.
TARGIT’s easy-to-use platform also gives the business users direct access to insights or dashboards, enabling organization-wide data analysis.
Giving Teams Real-Time Data Access
Novenco’s IT department has been using TARGIT for close to 15 years to align with manufacturing teams on KPIs and ensure comprehensive data reporting and analysis on critical initiatives.
With TARGIT, they can automatically extract data from multiple sources and filter it through various reporting cubes to give teams quick, easy access to data. TARGIT’s scalable infrastructure also makes it easier for the IT department to maintain and operate the BI backend and frontend over time.
Novenco uses TARGIT to research historic distribution trends on specific markets and explore pole numbers, the size of the motor, the frequency the power rates, etc. These insights help them standardize products based on typical applications.
Jacobsen explains how TARGIT helps Novenco leverage data for more than operational improvements. "TARGIT helps make data-driven post-operational decisions every day to inform tactical and strategic initiatives."
Teams use TARGIT to drill down into detailed information, identify concerns, and determine a post-operational strategy for refinement. For example, Jacobsen's team will extract a report of every customized motor sold in the last three years and find feature overlaps. From there, they add a new standard motor to their regular inventory to streamline production and reduce expenses.
Jacobsen explains how this scenario impacts Novenco's bottom line, "Thanks to these reports, we've evolved from producing 90% custom items to about 70% standard items. These changes have significantly helped our customers since it's much easier to order a standard product than to request a custom one."
Across teams, TARGIT enables Novenco to operate and make improvements independently. Jacobsen explains, "I think the greatest benefit of TARGIT is that it allows us to make changes ourselves."
Planning for the Future
TARGIT and Novenco's longstanding business partnership is continually evolving, especially as Novenco begins upgrading its systems and tools.
They've already purchased TARGIT's BI accelerator for their new IFS ERP. Jacobsen explains that this proactive approach will give their organization a headstart when the new ERP is introduced.
"TARGIT's new pre-built cubes for IFS will give us the ability to implement our new solution and associated reporting structure in weeks instead of months, delivering faster ROI than if we were to build our BI infrastructure from scratch."
TARGIT’s easy-to-use interface and longstanding role in Novenco’s BI processes will help leadership teams quickly and effectively roll out the new solution for IFS.
This headstart is critical for the go-live. It will allow Novenco to efficiently onboard their new platform and develop new procedures that align with IFS capabilities and TARGIT's unique, pre-defined solution.
Jacobsen and his team hope that the combined benefits of both systems, along with Novenco's collaborative partnership with TARGIT, will continue to change business operations for the better and bring various teams even closer to high-value data insights.
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