Ecova Makes Investment In TROVE
An investment in a data analytics company TROVE Predictive Data Science was made by Ecova, an energy and sustainability management company. Ecova said that it would leverage TROVE’s data technology with the mission of saving money for its client portfolio. TROVE technology makes use of analytical solutions that continuously learn in order to provide data-driven insights for companies that are interested in better-controlling assets and data, and decreasing resource and energy consumption.
TROVE makes use of proprietary algorithms in order to find out the correlation in data. The company said that this technology has increased energy efficiency program response rates by almost 300 percent when compared to conventional methods and provided a 37 percent energy reduction for every customer.
According to Jana Schmidt, the President and CEO of Ecova, “TROVE’s technology is a key component of our strategy as we build global capacity 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. 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.”
The investment in TROVE makes advanced predictive analytics like forecasting and benchmarking, lead in terms of interval data for Ecova’s industrial and commercial customers. It also allows Encova to use interval meter and telemetry data to give solutions that enhance consumption of individual energy assets and decrease overall building energy consumption. Ecova can control the power of data to help utilities provide value while creating measurable action and results.
Ted Schultz, the CEO of Trove 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. We are thrilled with this investment by Ecova and look forward to working with them to help companies drive value through insightful actions that deliver real results.”
Based on its website, Ecova is a total energy and sustainability management company whose sole purpose is to see more, save more, and sustain more for its clients. The company provides fully managed and technology-optimized solutions for saving resources, which in turn increase returns, lower risks, and enhance reputations.