Date: Tue Aug 2, 2016
Time: 3:40 PM - 5:40 PM
Moderator: Matt Wiebers
In a capital intensive business, farmers must constantly mull and often execute on strategic investments in machinery and/or tech hardware and software. What are the key metrics which help drive these decisions? Along with analytics, what other qualitative factors affect the purchase decision and adoption process? We will discuss some tools for analysis of return on investment, along with how intangibles also influence the purchase decision.
When analyzing the economics of precision agriculture technologies, profitability is truly site specific. However, determining to invest in precision agriculture hardware or software goes beyond the initial investment cost of the technology and the input savings potential. The decision making process is presenting, highlighting the unique factors to consider and the economic tools available before investing in new precision agriculture technologies.