Retailers and growers in the agriculture industry face thinning margins as a result of recent consolidations and mergers in the seed and crop industry. When this challenge is combined with wide swings in customer demands, we end up with a lack foresight into crop volume and experience highly volatile prices. Meanwhile, digitization across the value chain is disrupting the fundamental business model of the agriculture industry.
For the Ag industry, a lift in profitability will be found in three areas:
- Predictive Analytics. Using data to uncover unseen opportunities that drive higher returns
- Optimization. Scenarios that highlight the opportunity cost and benefit of decisions
- Data at Play. Collecting and using only information necessary to drive impact
The shift to transparency in the relationship between investment and outcome puts you at the forefront of profitable production. What an opportunity!
Forward-thinking retailers are using artificial intelligence (AI) to reimagine product pricing and discounting strategies, better match supply to demand, and deliver more consistent success with their customers.