Big Data companies such as Deere & Co and Monsanto’s Climate Corporation, which have partnered with farmers, retain ultimate control over growers’ field data they collect that could be worth billions — and that doesn’t sit well with farmers, Reuters reports.
The companies’ 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 Industrial’s user agreements now state that farmers own their agronomic data.
Photo Credit: farm field via Shutterstock