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Big Data Analytics is fueling innovation in many industries and is a critical element in solving some of the key problems faced by industries globally. Analytics can turn information into meaningful insights, boost customer satisfaction, enhance efficiency, and plan for demands in the future. Commercial industries today face many challenges in the areas of energy, sustainability and business optimization. As a result, defining and implementing a successful strategy to leverage big data requires a clear vision, detailed planning and commitment.
A company which helps enterprises improve operating models, create more efficient buildings and deliver superior data along with customer and investor value is Entic, Inc.
Entic helps building owners and operators achieve impactful utility cost reduction and increased asset value through greater operational visibility, under an affordable, easy-to-implement subscription model. The company's proven solution generates specific actions for building operators to take, lowering their operational costs and achieving peak energy performance.
Entic provides IoT cloud-based technology, enabling business outcomes around operational value, sustainability goals, and increased asset value. The company's proven solution captures real-time building data and offers continuous diagnostics leading to the delivery of specific actions for internal facility teams. The reduction in electricity costs is often achieved through low-cost and no-cost recommendations, called prescriptions.
Entic's building analytics platform has demonstrated on an average 8-12% energy reduction across facilities and portfolios, translating into meaningful value creation. The Entic solution has been deployed by some of the most recognized names in real estate, hospitality, healthcare and sports venues. Entic's technology can be found in iconic properties including Miami's Marlins Park, the Willis Tower in Chicago, and the Park Avenue Tower in New York City.
The name "Entic" is derived from the words 'energy' and 'analytics'. Its logo features the Greek letter eta in lowercase, emulating the "n" in its name. The eta symbol is used in various branches of science and engineering to represent efficiency.
The company's mission focuses on empowering building owners and operators to turn building data into value while advancing sustainability goals.
Entic was incorporated in January 2011 when an electrical engineer and a software architect, began talking about the inefficiencies of building cooling, heating and ventilation systems. Despite mechanical and technical advances like variable frequency drives (VFD) and building management systems (BMS), peak performance levels remained elusive. With central plants representing about 40% of a building's total energy usage, they concluded that even a modest improvement could yield big savings, and they set out to find the answer. With the right software, they reasoned a system could communicate continuously with a building's different components, quickly processing information and orchestrate them to achieve the desired results. Once development and testing were completed, the results exceeded their expectations.
Zach Posner, President and CEO, has served on Entic's board of directors since 2016 and brings his extensive expertise in scaling enterprise software businesses to the company. A successful entrepreneur, Posner has also served as an adjunct professor at USC and has worked in venture capital prior to joining Entic.
An Optimal Mix of Technology and Human Intelligence
Entic focuses on portfolios, with the right technology mix, human intelligence and the ability to scale. It helps organizations to adopt proven tools and practices to drive significant efficiency and reduce operating expenses.
Portfolios
• The biggest opportunity for financial savings and sustainability impact.
• The company has proven playbook, field-tested by Hilton, Blackstone and other enterprise customers.
Technology Mix
• The right mix of software (analytics), hardware (IoT smart sensors), and expertise in energy efficiency.
• Remote Energy Center delivers timely recommendations called prescriptions, to resolve low-cost or no-cost fixes to building equipment issues.
Human Intelligence
• Entic's Remote Energy Monitoring Center keeps eyes on the buildings and is staffed by experienced engineers and HVAC system specialists. The company's technical support staff can act as an extension to the customers' facilities management teams to resolve complex issues as they arise.
• Entic's Customer Success team onboards new customers and provides ongoing reporting and quarterly business reviews.
Ability to Scale
• Making the data relevant to people so they can make the decisions and take specific actions.
• The company's analytics platform captures real-time data from many sensors: temperature, gas, electric, kW and can detect symptoms with this continuous diagnostic process. Once the data is analyzed, the team can spot the issues and deliver specific recommendations, prescriptions, so that the on-site building operators can take action.
• Entic empower building owners and operators with the tools to see how their systems are performing, how to measure the efficiency and let them know when systems are not performing as they should.
• With a list of recommendations, Entic shows customers how to fix the issues and what it is costing, so customers can prioritize items and act to combat drift.
Entic works to consistently evolve its technology platform, with the help of programs that integrate and respond to customer recommendations. The company has a team of highly specialized skills and deep domain experts in energy efficiency, HVAC systems, software development, and engineering.
Today's HVAC systems are the single largest consumer of energy in any building. With advanced analytics, Entic focuses on delivering timely recommendations to address specific issues facing building management. Achieved through an analytics platform that continuously monitors and diagnoses the health of the building systems, this approach generates prescriptions to resolve problems before the situation escalates and becomes costly to address or impacts comfort or safety.
The company has witnessed a proven track-record, demonstrating results with enterprise customers and industry leaders. Entic has partnered three strategic investors: Blackstone, ClearSky and FifthWall. Entic was the top choice by these companies after extensive research in the commercial analytics and energy management space.
Entic has been successful in delivering solutions across a range of facilities and portfolios. Regardless of size, building-function or geography, the company has been able to identify waste and suggestions for taking corrective action, translating into enhanced value creation and a quick ROI (within in a year in most cases).
Blackstone, the world's largest private commercial real estate owner, began exploring energy saving technologies offered by Entic to reduce its costs and energy footprint. The private equity firm vetted approximately 20 companies, and Entic was selected as "Best in Class" solution for portfolio-wide utility waste reduction.
Don Anderson, Chief Sustainability Officer at Blackstone, said "Blackstone companies have deployed over $1 million in handheld diagnostic tools to improve mechanical system O&M. Entic takes this approach to the next level by providing visibility and remote diagnostics associated with BAS deployment. 15% enterprise-wide energy cost savings are common as HVAC systems are tuned and properly controlled. This makes our buildings more comfortable and cost competitive, but also drives portfolio-wide consistency across our building engineers and management companies."
Entic has documented energy savings for enterprise customers in the hospitality sector as well. Hilton Worldwide has witnessed a 10 percent utility reduction across the portfolio of properties where it has deployed Entic's analytics platform. The Entic platform has helped Hilton consistently witness energy, carbon and cost savings across their portfolio, supporting Hilton's sustainability initiatives.
Gratefully, Entic has seen significant growth, traction and received strong strategic investments to support its expansion. "As witnessed in many other industries, there is an inherent challenge to move technology into a new space, for the first time. We overcome this challenge, by truly partnering with our customers to change the way that they operate their buildings, and make sense of an extraordinary amount of data to provide actionable insights and achieve business outcomes," said Zach.
Energy efficiency has been in the spotlight for decades, particularly in regard to buildings. Entic sees an unprecedented opportunity in the connected building space. "With 40% of the world's energy being consumed by buildings, and the average commercial building wasting 30% of the energy it consumes, we have our work cut out for us," Zach said. "We believe the industry will focus on combatting drift, which causes commercial buildings to lose an average of 20% energy efficiency every one-to-two years, and focus on improving operational efficiency that translates into sustainable savings and increased net asset value. Entic's continuous diagnostics approach will be key in this endeavor".
