When IBM acquired The Weather Company a few years back for over $2B (and without the broadcasting business), some were curious why weather data is worth so much. By integrating TWC’s large number of weather collection stations with IBM’s expertise in AI and big data, IBM was able to generate new data products that monetize the weather information. It was able to deliver targeted advertising data, as well as operational input for agriculture, transportation and many other industries.
We see that data is valuable, and IBM’s big data expertise is not the only option to analyze it. Companies large and small, as well as several academic institutions, are developing sophisticated analysis tools that use agricultural and weather data to make smarter decisions.
Some of these models are not available yet, but as a user of precision agriculture, you would like to be able to use them in the future. Thus, make sure that the data that’s collected from your precision agriculture sensors is yours. That you are free to use it as you wish. That you have full access to it via an API (applications programming interface), and perhaps that it is also hosted on a popular data cloud platform such as AWS, Azure or Google. It’s your data, and it’s more valuable than you might think.