REDWOOD CITY, CA--(Marketwired - January 31, 2017) - C3 IoT™ announced that it has been selected by Con Edison and Orange & Rockland (O&R) Utilities, both regulated operating companies of Consolidated Edison, Inc. (NYSE: ED), to provide the enterprise analytics foundation for the companies' digital transformation initiative. By standardizing on the C3 IoT Platform™, Con Edison and O&R will unlock business insight from the vast data across its enterprise to reduce operating costs, ensure the optimal deployment and operational health of 5 million smart meters, and develop new products and services for improved customer engagement.
C3 IoT was selected after a rigorous evaluation process that demonstrated the maturity, scalability, and extensibility of the C3 IoT Platform. C3 IoT's proven results with industrial-scale Internet of Things systems will enable Con Edison and O&R to rapidly design, develop, and deploy next-generation enterprise applications that leverage artificial intelligence (AI) and machine learning at scale to address critical customer and operational priorities.
Under a multi-year agreement encompassing 5 million smart meters, the C3 IoT Platform enables Con Edison and O&R to aggregate and keep current enormous volumes of disparate data -- including telemetry from sensors and devices, data from diverse enterprise information systems, and external data sources such as weather, traffic, and social media -- into a single cloud-based data image, and employ advanced analytics and machine learning at scale, in near-real time, to capture business insights that improve operations, enhance customer engagement, and differentiate products and services. The companies estimate data volumes will exceed 115 terabytes, growing by 104 gigabytes per day, from 480 million meter reads each day.
As Con Edison and O&R deploy 5 million smart meters across their networks, they will leverage the C3 AMI Operations™ application to track installation, deployment, and health issues; identify, prioritize, and expedite resolution efforts; and enable predictive maintenance. The C3 IoT application employs self-tuning machine learning algorithms to accurately identify meter and network health issues with increasing precision to ensure operational excellence across the network.
Additionally, C3 IoT will train Con Edison and O&R, empowering the team to adapt, extend, and develop new applications using the C3 IoT Platform and tools to meet evolving business needs and customer requirements.
"Con Edison and O&R have an impressive digital transformation plan," said Ed Abbo, President and CTO, C3 IoT. "Together, we will harness the power of elastic cloud computing, big data, analytics and machine learning, and the Internet of Things to jumpstart Con Edison's ability to realize operational efficiencies, better serve customers, and meet the challenges and opportunities of the changing energy industry with precision and accuracy."
With more than 100 million sensors and devices under management, C3 IoT provides the only development environment for next-generation enterprise AI and IoT applications that is proven at scale to deliver tangible business value.
About Consolidated Edison, Inc.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $47 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
About C3 IoT
C3 IoT provides a full-stack IoT development platform (PaaS) that enables the rapid design, development, and deployment of even the largest-scale big data / IoT applications that leverage telemetry, elastic cloud computing, analytics, and machine learning to apply the power of predictive analytics to any business value chain. C3 IoT also provides a family of turn-key SaaS IoT applications including predictive maintenance, fraud detection, sensor network health, supply chain optimization, investment planning, and customer engagement. More information is at http://C3IoT.com.