The Agricultural sector is moving towards data-driven transformations. Farmers and traders are moving towards technological advancements, adopting data analytics and smart farming technologies. Predictive and descriptive analytics and scenario modeling can help optimize outcomes for agribusinesses. Efficiency and profitability are primary goals for modern agribusinesses as they strive to achieve operational excellence while meeting increased demand.
The Farmers Digital Network component is designed to put the power of Agro Insights, analytics and solutions into the hands of farmers whether online or offline, wherever and whenever. The intent is to empower our members with operational insights and the ability to analyse and synthesize market-driven data on real-time basis.
It will provide complete insight into the Agro Value Chain covering procurement and distribution for farm operations, farm inputs /supplies and credit information to partners that want to streamline and improve the efficiency of their agriculture operations.
AgroDomain shares insights that enable action across the value chain and increase alignment among inputs, producers, equipment providers, processors, manufacturers, distributors and retailers.
Issues in Agricultural Business
One of the most important and great pain points in agricultural business is to predict events that will show the results. There is a great pressure on the farms that are within the markets due to rising production costs. According to a research, the global population will be approximately 9.5 billion by 2050, up from 7 billion at present adding great pressure to the market.
Simply increasing the land cannot be a feasible solution for many farmers to grow more crops. Hence, technology in agriculture plays a vital role in making the better use of available space.
How IoT and Predictive Analytics can solve the problems
Data can be collected from these agricultural businesses thereby leveraging technological innovations for better surveying. With the help of IoT devices, we can analyse the status of the crops by the capturing real time data from the sensors. By collecting data from the sensors and applying predictive analytics we can get insights that help to make better decisions related to harvesting.
With the growth of population at a rapid pace could mean that every agribusiness needs to increase their productivity over the next 35 years and hence with the help of predictive analytics even the most specific problems can be matched.In the era of smart agriculture, IoT and Big Data analytics can help power efficient operations around the world. Combining IoT with analytics in agribusiness can help get accurate predictions for market and crop conditions thereby increasing their yields and profits.