Precision agriculture technology has impacts beyond the farm field. When evaluating precision agriculture products and services, it is important to understand what the product is, how it creates value for farmers or agribusinesses by increasing profits or reducing risks, and whether it requires producer data access. Key questions include understanding the benefits, how adoption is driven, the target market and value proposition in terms of profitability, how revenue is generated, and the data usage, privacy and security policies if data is involved.
2. The Impact of Precision Agriculture goes far
beyond the producer’s field
3. Precision Agriculture Tech: Questions to ask…
#1: What is the product/service?
• What are the benefits of the product/service?
• How does the company drive adoption in the
market?
#2: How does it create value?
• What is the target market and value (i.e.,
increase profitability or reduce risk)
– Farmer Profitability = Yield x Price – Cost
– Agribusiness Profitability = Revenue – Expenses
• How does the product/service generate
revenue?
#3: Does it need producer data?
• Will producers share data? Is there a
trusted relationship?
• What is the data usage, privacy, and
security policies?
Data
Product /
Service
Value
Creation
