SANTA CLARA, California, June 30, 2020 /PRNewswire/ -- Based on its recent analysis of the North American energy management software market, Frost & Sullivan recognizes Virginia-based SkyFoundry, LLC with the 2020 North American Entrepreneurial Company of the Year Award for disrupting the market with its SkySpark® platform. This platform automatically collects and analyzes diverse data from automation systems, meters, sensors, and other smart devices across the customer's premises to identify issues, trends, correlations, and opportunities for operational improvements and cost reductions. In short, the platform enables customers to turn data into actionable intelligence and adapt to new business models.
The SkySpark platform empowers businesses to innovate by providing full visibility into energy consumption by asset, sources of energy consumption, equipment performance, and overall operational costs. The platform includes a full suite of tools for energy data analysis and reporting applications and automatically performs analytics on the data from HVAC, lighting, automation systems, and other assets connected to the meter. Since 2009, SkyFoundry has been strengthening its R&D capabilities with AI, edge computing, machine learning, smart algorithms, distributed computing, automation, and cybersecurity.
"SkySpark is sold as licensed software and runs on all major operating systems and cloud environments. This flexibility enables a diverse partner channel to deploy the software on-premise, offer it as software-as-a-service, as well as deploy it at the edge by embedding it in proprietary software applications and hardware products," said Swagath Navin Manohar, Industry Analyst. "The software supports an end-to-end platform that includes data acquisition, data normalization, highly efficient storage, a continuous processing analytics engine, and a suite of data visualization applications. It also allows partners and OEMs to provide their own value-add and market differentiation."
Through SkySpark, SkyFoundry addresses several gaps in the energy management software market. For example, the platform's high-performance Folio database and advanced data compression aid the collection and storage of live sensor data within a fraction of the storage space required by conventional databases. SkySpark's analytic engine, Axon, automatically processes rules, KPIs and algorithms and generates visualization and notifications, all without any manual interference. The platform can be used in a wide variety of applications, including the monitoring of equipment, sensors, and devices; load profiling; facility benchmarking; and asset performance.
"SkyFoundry continuously increases its market expertise, specifically through effective partnerships, and has discovered new ways to develop its competence and support blue ocean strategies. SkyFoundry currently serves the end user market through more than 140 authorized reseller organizations, including major OEMs, system integrators, and specialty technology firms," noted Manohar. "Overall, SkyFoundry's SkySpark platform allows partners to adhere to regulatory frameworks related to energy efficiency, optimize their service offerings, and holistically improve energy management software capabilities."
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. The award looks at emerging market participants in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About SkyFoundry, LLC
SkyFoundry provides software solutions to create value from the data produced by the Internet of Things. SkySpark® Analytics software is an open, extensible platform enabling data from a wide range of sources to be automatically collected, visualized, and analyzed, to identify opportunities for operational improvements and cost reduction and execute automated system optimization. For more information about SkyFoundry, please visit www.skyfoundry.com.
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SOURCE Frost & Sullivan