Some types of noise are random, others are predictable for YOUR specific sensor. e.g. at any given temperature and taking a photo of a given length, there is certain noise which will re-appear on the same pixels. If you grabbed another camera body of the same model as yours, the noisy pixels would be in a different spot. The repeatable noise is like a fingerprint... unique to your sensor.
In-camera noise reduction can remove that type of noise in a way that post-processed images cannot. Your computer software wont know the difference between the two types of noise. If you shoot RAW images, you can shoot "dark" frames and process the noise out on the computer -- the dark frame essentially tells the computer where your "repeatable" noise is (and usually you shoot many of them so it can assess which pixels are consistently noise and which pixels are randomly noisy.) I don't know of any terrestrial photographers who shoot dark-frames (although it wouldn't surprise me to learn some people do it) but astrophotographers (who mostly shoot long exposures) shoot these routinely.
You take them at the same time (e.g. after taking your normal frame, shoot a few dark frames) because you want them captured when the outdoor ambient temperature and the inside-camera temperature are the same as they were for your normal exposure.
You can also reduce noise by taking multiple exposures and "stacking" them. The idea is that elements in the image that are really there will be there in every frame. Pixels which represent noise will appear randomly. By "stacking" you can allow the computer to notice the difference. This will eliminate random noise -- but it wont eliminate the consistent noise. That's why you shoot the dark-frames. HOWEVER... there is another technique called "dithering" in which the camera is shifted _very_ slightly between frames. You'll re-align the offset images later, but the point of this is that any consistent noise will remain in the same place even though your subject moved over just slightly. This means the repeatable noise wont in the same location "relative" to the position of your subject -- making it easy for a computer to detect and eliminate.
Again... these are all techniques practiced regularly by astro-images. Keep in mind their exposure times are often VERY long (e.g. they might conceivably last an hour each.)
If you're shooting long exposure JPEGs and just want to get it in one frame with minimum hassle, then I'd probably turn the long exposure NR on and wait it out.