Using Data to Pursue Efficiency Increases
New technologies are making it easier than ever to collect relevant data about your farming operations. However, simply collecting data is not enough—you need to be putting your data to work for you.
In a recent article from AgWeb, author Kinsie Rayburn offers some helpful tips for putting your farm data to work for you. She explains that collecting and using data results in increased efficiency, which she defines as “saving time and money while maintaining or improving profitability and productivity.”
Here are the tips that Rayburn offers for putting your farm data to good use. You can use the data you collect to:
- Inform your decisions about capital allocations. It is best to look at the big picture—that is, multiple years of data—to decide what to do next.
- Increase efficiency in the areas of nitrogen applications and irrigation needs.
- Make your case for receiving new financing. Lenders prefer well-prepared, well-informed applicants who can prove why they need the money they are asking to borrow and demonstrate how it will be put to use.
- Prepare you for a future where increased data requirements will be the norm.
For further details, click here to read the article in full at AgWeb.