Water Data Analytics Drive Solutions and Profits
Climate change, droughts, and floods are driving business for Canadian software companies. This week, Vancouver-based Aquatic Informatics Inc., a software solutions company for hydrologic data management and analysis, announced it ranked in the top 500 of Canada’s fastest-growing companies.
“We’re designing the best environmental analytics software to solve the world’s most challenging water problems,” said Ed Quilty, President and CEO at Aquatic Informatics.
“The world’s attention is focused on the nexus of water security, food security, and energy security – all dependent on clean water supply. The growing need for timely, accurate hydrological information is fuelling our rapid international expansion, new product ingenuity, and thriving sales,” he said.
Quilty started his career as a biologist, but returned to school to pursue a PhD in hydro-informatics at University of British Columbia, when he realized that the nature of data collection was changing. “You were getting one sample every minute rather than one a month,” Quilty said in an interview with the Globe and Mail last March. “Instead of a snapshot, it was like looking at an entire movie.”
Over the past five years, Aquatic Informatics has become a global clean technology leader for water data management software, with over 400 customers in 45 countries. The company’s clients include: Environment, Manitoba Water Stewardship, Saskatchewan Watershed Authority, B.C. Environment, and the U.S. Geological Survey. The company was ranked No. 274 on the 27th annual PROFIT 500 ranking of Canada’s Fastest-Growing Companies, published in the October issue of Canadian Business and at PROFITguide.com.
Aquatic Informatics made the 2015 PROFIT 500 list with a five-year revenue growth of 212%. It grew its revenues by 30 per cent last year, to $10-million annually, and doubled the company’s size to 80 people. Quilty say that the market for data analytics and management of water data is approximately $500-million globally and that North America is about a quarter of that.
“Threats to the security of our water future are accumulating at a much faster pace than our investment in water monitoring,” said Stuart Hamilton, Senior Hydrologist and author of the eBook “The Value of Water Monitoring”.
“The need for timely, accurate, and reliable hydrological information to effectively manage these risks is urgent. We can’t control the weather but we can control our response to adversity,” he said.