Why Is Big Data Worth So Much to Big Agriculture?

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Oct. 9 (Bloomberg) -- David Friedberg, founder of Climate Corp., discusses why big data is so valuable to big agriculture companies like Monsanto. He speaks with Cory Johnson on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

To pay a giant sum of money.

Why is the business of big data worth $900 million?

I think we see and agriculture, farmers not just in the united dates, but around the world are coming online.

They are starting to figure out how they can use information to do a better job farming.

It is sort of an analog world that is becoming digital.

We have really tried to build technology to support that effort.

Why did it take google guys to figure that out?

There's enough money in ag for people to look at this.

The competency for people who are traditionally in ag is what they do.

Feed or equipment or chemicals.

It is not necessarily software.

How do you promote this to figure out what is happening in a former's individual field?

How do you use that data for the farmer to make better decisions?

How do you model the weather so that it can predict yield?

Which allows us to offer an insurance product to farmers.

There's a lot of science and that is really nontraditional for the agricultural industry.

To do work in any ways around farms?

I go to whole foods.

I have never worked in ag./ when we started the company in 2006, it was a broader model.

It was how do we show insurance companies the weather?

The business that we found it was the best fit was agriculture.

In 2009 we started to get really deep into agriculture.

We expanded our team.

My cousin brian started a farm in iowa right now.

What i find is these are very savvy guys.

Very smart.

Very smart understanding their own property as well.

Do you find that farmers are intuitively able to figure this stuff out?

In the rest of the world -- what they don't realize is that farmers are running a small business or a medium or large business.

They are business owners.

The business is inherently risky and volatile.

Farmers have to be smart and they really have to have us and in control of these aspects of the business.

And the biggest one is the weather.

The biggest uncontrollable aspect is the weather.

It's really important to being successful and driving additional yield, additional food, additional profits for the farmer.

Is there a certain farmer that this is most applicable for?

Is it better for napa valley or be old raising -- our software product stands people spectrum of agriculture.

More than half is corn and soybeans.

That is where we naturally spend a lot of time and do a lot of work.

Thank you very much.



This text has been automatically generated. It may not be 100% accurate.


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