SOURCE: ParStream

February 03, 2015 08:00 ET

ParStream, the IoT Analytics Company, Today Announced That It Has Joined the Industrial Internet Consortium (IIC)

CUPERTINO, CA--(Marketwired - Feb 3, 2015) - ParStream, the IoT analytics company, today announced that it has joined the Industrial Internet Consortium (IIC), an organization of over 130 enterprises collectively engaging to spur growth of the Industrial Internet by driving innovation and influencing global development standards for Internet and Industrial systems.

Multiple analyst reports forecast exponential growth, at least 10 times growth between now and 2020, in the IoT based on the increase of connected devices as companies adopt IoT technology to drive new business models and increase revenue growth.

"We're excited to have ParStream join the IIC," said Dr. Richard Soley, Executive Director, Industrial Internet Consortium. "With their experience in developing and using Industrial Internet technologies, we welcome their input in IIC Working Group activities."

Founded in 2014, the goal of the IIC is to galvanize the Industrial Internet by enhancing innovation through the formation of new industry use cases, promote open forums to share real-world ideas and practices, and build innovative approaches to security. Members include technology innovators, governments, universities and market leaders.

"Joining the IIC is a tremendous opportunity to collaborate with tech luminaries to both innovate and transform the Industrial Internet," said Peter Jensen, CEO of ParStream. "We look forward to working with the IIC and member organizations to accelerate the adoption of IoT technology and drive potential business benefits."

ParStream provides the first analytics platform for the Internet-of-Things. The platform helps companies generate timely, actionable insights from IoT data by providing highly innovative and differentiated ways to analyze streaming and historical data -- faster, with greater flexibility and closer to the source. At the core of its analytics platform is the ParStream DB Database, a massively parallel processing columnar database with a shared nothing architecture that allows billions of rows of data to be analyzed with sub-second response times.

About ParStream

ParStream is the IoT analytics platform company. The ParStream Analytics Platform was purpose-built for scale to handle the massive volumes and high velocity of IoT data. Enabling a new breed of analytics for the enterprise, ParStream has earned accolades including CIO Magazine #1 Big Data Startup, Gartner Cool Vendor and Database Trends and Applications Magazine's Trend-Setting Products in Data. ParStream is based in Silicon Valley, online at http://www.ParStream.com and on Twitter @ParStream.

About the Industrial Internet Consortium

The Industrial Internet Consortium is an open membership organization formed to accelerate the development, adoption and widespread use of interconnected machines and devices, intelligent analytics and people at work. Founded by AT&T, Cisco, General Electric, IBM and Intel in March 2014, the IIC catalyzes and coordinates the priorities and enabling technologies of the Industrial Internet. For more information, please visit www.iiconsortium.org.

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