ParStream, the IoT analytics company, announced today that it has joined the HyperCat consortium. The mission of the consortium is to accelerate the development of the IoT. It consists of 40 European and US-based technology providers, along with educational establishments and local authorities.
It is predicted by many industry analysts that the IoT will continue to grow rapidly over the next decades. More and more devices are being connected and an increasing number of companies are adopting IoT technology to drive new business models and foster revenue growth.The HyperCat consortium aims to create an inclusive one-stop shop of best practice IoT implementation through the sharing of knowledge of processes and applications.
Working on an open specification for the IoT via Hypercat, Justin Anderson, CEO and co-founder of Flexeye, one of the companies involved in HyperCat’s development, stated “We need a common language to make sense of the data, so HyperCat lays down some basic principles by which systems can understand, read and identify the information associated with a ‘thing’.”
“We look forward to working with the HyperCat consortium and member organizations to accelerate the adoption of IoT technology and drive potential business benefits,” said Peter Jensen CEO of ParStream.
ParStream provides the first analytics platform for the IoT. It 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.