NASHUA, N.H., Feb. 15, 2022 /PRNewswire-PRWeb/ -- Datanomix, the leading automated production intelligence platform for precision manufacturers, today announced the company experienced record growth in FY2021 ending January 31, with Annual Recurring Revenue (ARR) more than tripling since FY2020. Market acceptance for the company's solutions has increased as US manufacturers boost production while simultaneously dealing with challenges in hiring and retaining employees. The Datanomix platform helps identify and address factory performance issues in real time and supports unattended operations with automated insights.
Like most industries, US manufacturers are suffering through some of the worst labor shortages in decades, with some industry analysts forecasting that up to 2.1 million manufacturing positions will be left unfilled by 2030. Datanomix delivers actionable insights that help manufacturers address labor deficits through better communications and performance for both manned and unmanned factory shifts. And by allowing production supervisors to laser-focus on work cells that need attention, Datanomix helps identify areas where operator training will result in a more intelligent workforce, armed with the exact data they need to affect change.
"Not only has adoption of the Datanomix software platform accelerated, but many of our customers are expanding their Datannomix coverage to every machine and every facility they own across the country," said John Joseph, CEO and co-founder of Datanomix. "And because we don't require operator input to drive insights, our power users have adapted Datanomix to their unattended shifts, which they can monitor remotely. It's because we spend so much time with our customers that we understand how they work, and we delivered a platform that matches how they work."
Highlights for Datanomix in FY2021 include:
- Annual Recurring Revenue (ARR) grew more than 350%, with the average deal size tripling from the first half of the year to the second half.
- 100% customer retention, with more than 20% of customers expanding their Datanomix machine deployments, both in their existing facilities and additional factories.
- Datanomix tripled the number of employees across all functions - engineering, sales, customer success, and marketing.
- A strategic partnership announcement with Caron Engineering will provide solutions to help manufacturers proactively optimize whole-factory performance and profitability.
- A diverse range of new customers across a variety of industries, including medical, aerospace, firearms, automotive, and semiconductors.
Major Product Updates and New Product Introductions in 2021:
- Quote Calibration Report: an in-depth analysis of every job and an indication if you are making a profit or there is an opportunity for improvement.
- Continuous Improvement Hub: a new management workflow that consolidates key performance indicators for factory health into a single dashboard.
- Digital GEMBA: a new product that accelerates mission-critical information directly from ERP systems to become a factory communication hub.
"Our customers continue to be our biggest source of inspiration and insight as we improve and expand our product offerings," stated Greg McHale, CTO and co-founder of Datanomix. "Manufacturers know their business inside and out, and are looking for ways to get solid data to help them fine-tune operations and increase profits. It's an incredibly challenging time for manufacturers, and the organizations that will thrive are those that embrace automation and advanced analytics. We're proud to be able to support our customers with the most in-depth insights into real-time operations as well as overall factory performance trends."
Datanomix delivers massive business impact for its customers. When they connect their CNC machines to Datanomix, precision manufacturers experience a 15% productivity boost in parts output, along with an average improvement in cycle time of 27%. In addition, there's an almost 12% reduction in time-to-first part across shifts and the time-to-resolution for most issues is cut in half. And when TVs are installed on the factory floor so everyone sees progress in real-time, there is a 33.5% boost in overall factory performance and utilization.
Visit the Datanomix online resources center to explore blog posts, customer stories, news, videos, and more. Recent content includes a blog post from John Joseph—2021 Was Great. 2022 Looks Even Better—and a think piece from Greg McHale—The Fatal Flaws of First-Generation Production Monitoring. To see Datanomix in action, please visit http://www.datanomix.io/schedule-a-demo/.
About Datanomix
Based in New Hampshire, Datanomix provides real-time production monitoring and performance analytics for CNC machines, without the need for operator inputs or links to ERP systems. Datanomix's mission is to level the data analytics playing field for industrial manufacturers by giving them robust decision-making tools so they can proudly build world-class products. Learn more at http://www.datanomix.io.
Media Contact
Lisa Saunders, Datanomix, +1 (603) 341-8020, [email protected]
SOURCE Datanomix
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