Farm Data Means Big Bucks for Big Data Firms
Big Data companies such as Deere & Co and Monsantoâ€™s Climate Corporation, which have partnered with farmers, retain ultimate control over growersâ€™ field data they collect that could be worth billions â€” and that doesnâ€™t sit well with farmers, Reuters reports.
The companiesâ€™ tools help with precision planting, improved fuel efficiency, cost-efficient fertilization and other improvements while also collecting farm data, which data vendors can sell. This could mean big business for equipment makers Deere and CNH Industrial and seed companies Monsanto and DuPont Pioneer. According to Reuters, Monsanto has said Climate Corp could become part of a $20 billion market, and DuPont Pioneer projects $500 million in annual sales over the next decade.
Additionally, CNH Industrialâ€™s user agreements now state that farmers own their agronomic data.
Photo Credit: farm field via Shutterstock
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