Ecova Invests in Predictive Data Company, TROVE
Investment to strengthen data insights for energy and sustainability management
SPOKANE, Wash. — Ecova, an energy and sustainability management company, has made an investment in TROVE Predictive Data Science, a data analytics company. Ecova said it will leverage TROVE’s data technology with the objective to save money for its client portfolio. 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.
TROVE utilizes proprietary algorithms to find correlations in data. The company said 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.
“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.”
For Ecova’s commercial and industrial clients, the investment in TROVE 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. For its utility clients, Ecova can harness the power of data to help utilities deliver value, while driving measurable action and results.
“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. “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.”
For more information about Ecova, visit www.ecova.com.
For more information about TROVE, visit www.trovedata.com.
Publication date: 2/24/2016