Farmobile Helps Minnesota Farmers Monetize Data
With the debut of Farmobile Data Store, farmers now have the ability to sell their agronomic and machine data to vetted third parties.
The farm data company is launching its pilot program, the first of its kind, in Minnesota. It is seeding the Store by guaranteeing Minnesota farmers at least $2 per acre for up to 250,000 acres.
To qualify, farmers must submit completed 2016 Electronic Field Records (EFRs), which include planting date, crop, variety, and population, as well as harvest date, total production, average yield, and average moisture.
In addition, farmers who participate will need to purchase a PUC or passive uplink connection to gather EFR data. The cost of a PUC is $1,250. It installs on nearly every make and model of machinery in five minutes or less.
All revenue that is generated through the Data Store is split equally between the farmer and Farmobile. For example, on a $1,000,000 purchase, a farmer would see exactly $500,000 in his pocket as a result. There are no special cases and no fine print.
“Our business is built on the conviction that the data farmers generate is inherently valuable. We’re so confident in the value of complete, portable farm data that we’re guaranteeing farmers will make at least $2 per acre for their EFRs in our Data Store,” says Jason Tatge, founder and CEO of Farmobile. “In fact, farmers will likely make more as the Data Store grows. This is the beginning of something really big.”
Farmobile’s data standard, the Electronic Field Record (EFR), unifies and stores field data sets in a portable format, regardless of manufacturer or format. Inputs and outputs are presented in a single, cohesive view.
EFRs are well formatted and easily sharable, saving farmers valuable time and keeping trusted advisers and farm managers in sync. In addition to data revenue opportunities, farmers can choose to share their EFR data with insurance agents, agronomists, equipment dealers, and other trusted partners.
Farmobile’s contract terms ensure that farmers own their data outright, forever. The company is also one of the first three companies to obtain the Ag Data Transparent Seal of Approval from the American Farm Bureau Federation.
Based on early feedback, Farmobile is already speaking with other regions about similar programs possibly starting this fall, just before harvest.
“We are delighted to be able to facilitate agricultural data transactions in a transparent way for the first time,” says John Ihlenfeld, owner and operator of Ihlenfeld Farms in Owatonna, Minnesota. “For too long our data has been taken, shared, and even sold without our awareness. We need true transparency and data ownership; control isn’t enough anymore.”
To learn more about the Farmobile Data Store visit farmobile.com/datastore.
If you’re interested in paying farmers for EFR data via the Farmobile Data Store, contact the company at farmobile.com/contact.