The market is demanding more transparency — are you ready?
You have a crop strategy and a grain marketing strategy — but what about a digital data strategy? “Data is no longer an option – it’s required,” says Steve Cubbage, co-owner of Record Harvest, which provides precision ag data management consulting to ag retailers and farmers.
What has been a subtle marketplace change is now ramping up. End users up and down the supply chain want to know more about what happens on your farm.
In the future, Cubbage says, all the data connected to a bushel of corn or soybeans will be purchased along with that commodity. As such, the more metrics you can provide could equal a competitive advantage.
“You’ll probably have to start recording every action from planting date, variety, seed treatments, nutrient management, etc., down to the efficiency of the machines you used to plant and harvest,” Cubbage predicts.
Drive the Data Bus
Data collection can be overwhelming. “The harsh reality is the majority of data never makes it of the monitor in the first place,” Cubbage says.
Think through your current data sources and consider how you can aggregate it to provide a comprehensive picture of your farm.
“There is no single system that does it all or has all the answers so one system shouldn’t have the only copy of your data,” Cubbage says. “Paper copies of your data is as valuable as a $3 bill – you need to have access to your digital farm data. Your data should flow through all your systems.”
Cubbage provides these reminders as you develop your data strategy:
- Collecting data is not a one and done operation.
- Quantity and sources of data are matter.
- Understand your data licenses and know what you own and what you may be giving away.
Pick the Best Data Partners
You can choose from nearly endless options in terms of data sources and providers. “Whether you’re looking at variable-rate prescriptions or detailed financial ratios, the people you choose to work with will be more important than the information itself,” says Chris Barron, Iowa farmer and a financial consultant with Ag View Solutions.
Assembling data is one thing; having the support and know-how to do something with it is another. If you are deciding whether to purchase services from an information company, Barron says, ask these questions:
- What information will make my farm more profitable?
- What information could help me make better decisions?
- If I choose your company, how much personal support will I receive?
- Is the information I’m receiving specific to my farm, or is it data aggregated from other operations?
- If I leave your company, will I be able to I retain all of my data and information electronically?
