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Retail Supplier Affiliate Invests In Predictive Data Science Company
Ecova, a unit of Engie f/k/a GDF Suez, has made an investment in TROVE Predictive Data Science, which is described as, "a next-generation data analytics company."
"Ecova will leverage TROVE’s data fusion technology to manage resources and assets, with the objective to ultimately save money for over 700,000 sites in its North American client portfolio starting as early as 2016," Ecova said
"TROVE technology enables analytical solutions that continuously learn to deliver data-driven insights for companies interested in better managing data and assets, and reducing energy and resource consumption," Ecova said
"TROVE utilizes proprietary algorithms to find correlations in data. This technology has increased energy efficiency program response rates by nearly 300 percent compared to traditional methods and delivered energy reduction per customer by 37 percent," Ecova said
"TROVE’s technology is a key component of our strategy as we build global capability for integrating, organizing and leveraging data from our portfolio of over 700,000 sites for insight we can use to generate action and provide powerful results to our clients," said Jana Schmidt, president and CEO of Ecova. "The investment enhances Ecova’s dedication in helping commercial clients reduce energy consumption and costs across their portfolio of sites. It also emphasizes our commitment to data- and analytics-driven customer engagement for utilities."
Ecova said that for its commercial and industrial clients, "this investment enables advanced predictive analytics such as benchmarking and forecasting, on top of interval data."
"It also enables Ecova to use interval meter and telemetry data to provide solutions that optimize consumption of individual energy assets and reduce total building energy consumption," Ecova said
"TROVE goes beyond common data analytics approaches, by leveraging data fusion, data enrichment and sophisticated data science against massive volumes of structured, semi-structured and unstructured data," said Ted Schultz, CEO of TROVE.
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February 8, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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