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Freebase(0.00 / 0 votes)Rate this definition: OSIsoft. OSIsoft, LLC is a worldwide manufacturer of Application software for real-time data infrastructure solutions, called the PI System. Founded in 1980, OSIsoft, LLC is privately held and headquartered in San Leandro, CA, with operations worldwide.
The OSI model defines standards for: 1  The way in which devices communicate between each other. 2  The means used to inform devices when to send data and when not to transmit data. 3  The methods which ensure that devices have a correct data flow rate. 4  The means used to ensure that data is passed to, and received by the intended recipient.