climate corporation: from open data to risk and farm management products for farmers
DESCRIPTION
The Climate Corporation’s mission is to help all the world’s people and businesses adapt to climate change. They aim to help farmers around the world protect and improve their farming operations and profitability. For their product offerings they are accessing and joining geographical and environmental data, agricultural production data and weather data at any location in the US.TRANSCRIPT
From Open Data to Risk and Farm Management Products for Farmers
March 2014
Our Mission
2014 The Climate Corporation. All Rights Reserved.
The Climate Corporation’s mission is to help all the world’s people and businesses adapt to climate change. We aim to help farmers around the world protect and improve their farming operations & profitability.
Our Objective is to Help Farmers Protect their Revenue and Increase their Profitability
2014 The Climate Corporation. All Rights Reserved.
Insure risks the farmer cannot control
Provide weather-based insights
Minimize risk of revenue shocks
Improve farming profitability
Financial stability creates investment
Our Objective is to Help Farmers Protect their Revenue and Increase their Profitability
!!
2014 The Climate Corporation. All Rights Reserved.
Insure risks the farmer cannot control
Optimize decisions the farmer can control
Minimize risk of revenue shocks
Improve farming profitability
Financial stability creates investment
Our Objective is to Help Farmers Protect their Revenue and Increase their Profitability
!!
2014 The Climate Corporation. All Rights Reserved.
Insure risks the farmer cannot control
Optimize decisions the farmer can control
Minimize risk of revenue shocks
Improve farming profitability
Financial stability creates investment
Optimize decisions the farmer can control
Total Weather Insurance (TWI)
2014 The Climate Corporation. All Rights Reserved.
● Customized: TWI coverage is tuned to your crop, location, soil type and local weather risks.
● Field Level: TWI uses up to three weather stations near your field, not just one weather station that may be on the other side of the county.
● Adaptive: TWI protects your crop when it matters, whether it is a hot, cool, wet, or dry season.
● No Hassles: TWI policies have no claims process, no paperwork and no waiting for payment. If bad weather happens, you are paid automatically at the end of the policy period.
TWI is an index-based weather insurance product that is built using agronomy-based statistical models and hyper-local weather observations.
High-Resolution Weather Data is Key to Reducing Meteorological Basis Risk
2014 The Climate Corporation. All Rights Reserved.
Weather events can be highly localized and affect nearby regions very differently Recording weather conditions at a hyper-local scale matters to reduce meteorological basis risk Meteorological Basis Risk Any difference btw the weather experienced at a field compared to the weather used to compute weather losses for insurance or to provide recommendations for ag management decisions
Example: precipita.on on Feb 10, 2014, in Southern IN
Example: gridded temperature data tracked in 4 x 4 km resolu.on during May 2012 in Northern IA
Weather Impact on Crop is determined based on Field-Specific Conditions
2014 The Climate Corporation. All Rights Reserved.
Hyper local weather conditions are tracked for each field
Field specific soil moisture conditions are determined
Field specific growing progress is assessed
Weather Impact on Crop is determined based on Field-Specific Conditions for every Field
2014 The Climate Corporation. All Rights Reserved.
and for every field in the Unites States.
Weather losses are determined based on field-specific conditions uniquely tracked for all fields belonging to a farm operation
Open and Easily Accessible Data is Key
2014 The Climate Corporation. All Rights Reserved.
For our product offerings we are accessing and joining geographical and environmental data, agricultural produc.on data, and weather data at any loca.on in the US.
Current Pain Points with Open Data
(1) Finding and understanding data • data descrip.on (metadata) • documenta.on around collec.on method and process • data cleaning process used (if applicable)
2014 The Climate Corporation. All Rights Reserved.
Current Pain Points with Open Data
(1) Finding and understanding data • data descrip.on (metadata) • documenta.on around collec.on method and process • data cleaning process used (if applicable)
(2) Accessing data – lack of a unified interface • sites designed for human querying are problema.c • data format inconsistent across websites • tapes vs database vs APIs
2014 The Climate Corporation. All Rights Reserved.
Current Pain Points with Open Data
(1) Finding and understanding data • data descrip.on (metadata) • documenta.on around collec.on method and process • data cleaning process used (if applicable)
(2) Accessing data – lack of a unified interface • sites designed for human querying are problema.c • data format inconsistent across websites • tapes vs database vs APIs
(3) Relying on data for products • lack of consistency in repor.ng
– file formats change without no.ce – government shutdown
2014 The Climate Corporation. All Rights Reserved.
Sorry, we are temporarily not
able to access any public data
…
Open Data Initiative – Next Steps For the private sector to build a business model that uses public data as a key input, data providers should …
(A) Open Data -‐ make exis.ng data available to public -‐ start collec.ng more data
(B) Document data – review data standards, technologies and best prac.ce for data sharing and documenta.on (C) Data maintenance -‐ consistently collect, update and report data under the same format (D) Iterate and Improve -‐ engage with end users
2014 The Climate Corporation. All Rights Reserved.
Thank you.