Reshaping the Agricultural Economy with Data-Driven Solutions

The world’s current population is projected to increase from 7.2 billion to 9.6 billion in the next 30 years. Likewise, the global agriculture analytics market is projected to increase by $651 million from 2018 to 2023. Traditional commercial farming practices have worked effectively to get us to where we are today – but farmers will need to be creative in how they utilize their farmland efficiently and effectively moving forward. More and more farmers are looking to agtech (agriculture technology) for innovative solutions to help feed our growing population.

What Is Precision Ag & Agtech?

According to PrecisionAg.com, Precision Agriculture (also known as “Precision Ag” or “Precision Farming”) is “managing crop production inputs (seed, fertilizer, lime, pesticides, etc.) on a site-specific basis to increase profits, reduce waste, and maintain environmental quality”. Often, those who practice Precision Ag will utilize technology or software solutions to increase productivity and efficiency.

Examples of technology that aid Precision Ag are:

  • GPS Tractors – self-steering tractors used to precisely care for crops and allow farmers to work better in low-visibility conditions
  • Soil Sensors – provide data to help farmers take real-time action during bad field conditions
  • Variable Rate Technolgy (VRT) – technology to manage crops & produce at varying rates

Think farming is exempt from data and analytics? Think again. Today’s farmers have access to an abundance of data but like those in other industries, may not know how to access that data or what to do with it. When farmers use tools that actively collect, track, analyze, and visualize data, they’re able to make better-informed decisions in planning and in crisis management.

Why Precision Ag & Agtech?

Agriculture’s success is dependent upon weather and environmental patterns. Limiting bad weather and environmental catastrophes are out of farmers’ control – but they can be prepared with predictive information on their risk-level and well-designed disaster plans. New Internet of Things (IoT) sensors can monitor crop health and alert farmers in the chance of an environmental issue.  The real-time feedback these tools provide farmers the opportunity to make informed decisions and make corrections before their product is affected.

Labor is another major challenge that farmers face today. By implementing automated solutions like GPS Tractors, farmers no longer have to worry about finding the right people to do the work or the health consequnces that come along with manual labor.

In addition, self-service dashboards and predictive analytics, allow farmers to save time and money and mitigate damage to their land, animals, and crops, ultimately preserving their profitability.

Emerging Agtech Solutions.

According to Forbes, in “2017 alone, ag-tech funding through investment or acquisition increased 32% to $2.6 billion.” Specifically, companies like ConverSight.ai are seeing increased productivity and improved accuracy and efficiency through analytics-driven Voice-Directed Warehouse solutions like WareVoice. They recently participated in Techstars Farm to Fork Accelerator program, a program focused on the technology side of food and agriculture. For farmers, a product like ConverSight.ai partnered with CSpring’s data literacy and visualization services could drastically improve their supply chain management practices.

From GPS tractors to conversational AI solutions, the possibilities are endless to improve Precision Ag locally, nationally, and globally. Not only will agtech help farmers improve their individual operations, but it will and get us closer to feeding billions of people as the population continues to grow.

Wondering where to get started with agtech solutions? Reach out to one of our consultants today.

Read more about our partnership with ConverSight.ai.