Joining a Farm Data Service
In recent reports, we’ve talked about the value of farm data. One of the ways farmers might tap into that value is by joining some sort of data service that promises to take that data and provide useful insights. But the decision to share your data should not be made casually, says Kansas State University ag economist, Terry Griffin.
Griffin… “If you don't see a clear benefit right now of joining a farm data service, you shouldn't. It's an economic decision. If the benefits of joining - and when I say joining that includes relinquishing control of farm data. If you don't see it benefits from doing so immediately, at least benefits that outweigh the cost of doing so, just wait. You're not in a hurry.”
Dr. Griffin says the data service companies may try to create a sense of urgency to capture more data, but farmers should proceed at a pace that’s comfortable for them.
Griffin… “The farm data services are in a race with each other, and it's a winner take all type of race. So they're trying to build their archive of more growers, farmers, fields, acres, sooner. And those who are able to do so will have a good chance of being the winner. They're in a hurry, so they're trying to push the feeling of hurriedness to the farmer. But farmers, you're not in a hurry.”
As always, Dr. Griffin says, make sure that the benefits outweigh the costs for your operation.