A newly released study on precision agriculture by Lux Research shows how cost-effective these new technologies are. Here’s some information from their release.
Precision agriculture is a quantified approach to cultivation that employs sensing, input modulation, and data analytics to enhance the efficiency of agriculture and increased crop yields. While individual tools are not typically cost-effective, and often not relevant for small farms, combining these technologies into integrated solutions for large farms leads to gains – cost savings plus revenue increases – of up to $66.50 per acre for U.S. winter wheat, according to Lux Research.
In the Lux Research study, the best-case scenario assumed wireless-transmitting soil moisture sensors, combined with weather forecasting service and integrated decision support on farms of 5,000 acres. While savings from input costs averaged $24.5 per acre, output gains were $42.0 per acre.
“The key to effective precision agriculture is legitimate decision support, closing the loop from measurements, through recording and analysis, to seamlessly link on-farm conditions with actionable advice,” said Sara Olson, Lux Research Analyst and the lead author of the report titled, “Every Input Is an Opportunity: How Precision Agriculture Is Redefining the Business of Cultivation.”