American Farm Bureau Federation, Measure Launch Drone ROI Calculator

Today, the American Farm Bureau Federation and Measure released a study that identifies and quantifies the benefits of drone technology in precision agriculture. Version 1.0 of the ROI Calculator will be available as a Web-based application on the Measure Website in the coming weeks; additional functionality will be added over time to include more drone applications and types of crops. There is no other tool like this available to farmers looking to drones to increase yields or save money.

The ROI Calculator quantifies the economic benefits of Drone as a Service for three applications: field crop scouting, 3D terrain mapping, and crop insurance. It initially covers three of the largest production crops — corn, wheat, and soybeans — allowing growers to quickly and easily determine if drone technology warrants further exploration after they input information about their farm into the ROI Calculator. For example, the findings show that for the average U.S. farmer using Drone as a Service to enhance crop scouting, ROI is $12 per acre for corn, $2.60 per acre for soybeans, and $2.30 per acre for wheat.

“While lots of drone hardware has been sold to farmers, until today no tool existed to help growers actually quantify whether the benefits exceed their costs, especially when farmers want to outsource these types of services. Working with the Farm Bureau and our partners, we have created the only ROI Calculator for drone use in precision agriculture,” said Justin P. Oberman, President of Measure. “This tool will help growers understand how drone technology can improve their performance for the benefit of consumers in the U.S. and around the world.”

“This study and the ROI Calculator will help make drones a reality for farmers and ranchers,” said Julie Anna Potts, Executive Vice President and Treasurer of the American Farm Bureau. “Every year we must feed more people on the same fields while protecting the environment we all share. Precision agriculture and drones in particular will be an important part of executing on that mission.”

The study is a result of coordinated efforts from a number of sources. Principal sponsors of the study are the American Farm Bureau Federation, GeoSilos, Lockheed Martin, and PepsiCo. Participating sponsors are ADM Crop Risk Services, AGCO, American Farm Bureau Insurance Services, Beck’s Hybrids, Co-Alliance, Conservis, GROWMARK, PrecisionHawk, Rembrandt Foods/Farm Nutrients, Richardson International, J.R. Simplot Company, Willis Group, WinField Solutions/Land O’ Lakes, Indiana Farm Bureau, Indiana State University, and Iowa Farm Bureau. Informa Economics provided key guidance and research throughout this effort.

A fact sheet of the study is available here.

Leave a Reply

Data Management Stories
AmericasPrecision Farming Companies to Watch in 2018 (OPINION)
January 17, 2018
My friends, as many of you told me repeatedly throughout the last 12 months, 2017 was an interesting year in Read More
farmer-tractor-ipad
Data ManagementThe Era of Digital Agriculture: Opportunities and Challenges
January 17, 2018
The digital revolution is changing the way agriculture is done. Rapid population growth, changes in market demands, depleting agricultural land, Read More
Data ManagementBlockchain: Making Data Cleaner, More Secure
January 16, 2018
Probably most professionals who deal with business data have at least heard the term “blockchain” bantered about as potentially the Read More
Soybean-field-clouds-Photo-courtesy-of-Earl-R-Shumaker
Data ManagementBetting on Rain? The Accuracy and Reliability of Precipitation Forecasts
January 16, 2018
For you sports junkies out there, if I could prove to you that I can correctly predict winners and losers Read More
Trending Articles
John-Deere-Cab-GPS
Data ManagementPrecision Ag Hardware and Software: A Little Off-Season Maintenance Goes A Long Way
January 11, 2018
All service technicians have heard this line. Most often when spring makes its anticipated return to our lives. It is Read More
Anez-Consulting-Paul-Anez-and-Michael-Dunn
Service ProvidersAnez Consulting: Focus On Fertility
January 9, 2018
Central Minnesota features variability aplenty when it comes to soil characteristics and topography, from flat, black expanses rich in organic Read More
Agrishow2017
Americas5 Best Ag Tech Shows in Brazil
January 8, 2018
Brazil continues to demonstrate its potential in agriculture. Several international companies are investing in our country because we have a Read More
Farmer and computer
Service ProvidersPrecision Agriculture Writers Wanted To Join Our Team in 2018
December 10, 2017
About The Opportunity: PrecisionAg.com is looking for people to join our team in 2018 and submit original content to our Read More
Harvested-Corn-Field-Clouds
Data ManagementWeather Services Advance Precision Agriculture
December 4, 2017
Some estimates suggest over half of growers’ activities are impacted by weather conditions, from field workability to fertility management to harvest Read More
Wheat-an-oats-Daniel-X-ONeil
Data ManagementWill Open-Source Finally Unlock Ag Technology’s Potential?
November 28, 2017
To Aaron Ault’s eyes, ag technology right now is something like a walled garden — not unlike the Microsoft of Read More
Latest News
Lee_Brittany
Specialty CropsFlorida Blue Farms Digging Data for Savings and Profit
January 17, 2018
Brittany Lee is no stranger to land management, writes Frank Giles on GrowingProduce.com. She grew up around it, observing her parents Read More
AmericasPrecision Farming Companies to Watch in 2018 (OPINION)
January 17, 2018
My friends, as many of you told me repeatedly throughout the last 12 months, 2017 was an interesting year in Read More
farmer-tractor-ipad
Data ManagementThe Era of Digital Agriculture: Opportunities and Chall…
January 17, 2018
The digital revolution is changing the way agriculture is done. Rapid population growth, changes in market demands, depleting agricultural land, Read More
Data ManagementBlockchain: Making Data Cleaner, More Secure
January 16, 2018
Probably most professionals who deal with business data have at least heard the term “blockchain” bantered about as potentially the Read More
Soybean-field-clouds-Photo-courtesy-of-Earl-R-Shumaker
Data ManagementBetting on Rain? The Accuracy and Reliability of Precip…
January 16, 2018
For you sports junkies out there, if I could prove to you that I can correctly predict winners and losers Read More
center-pivot-irrigation-drop-sprinklers-on-corn
Precision IrrigationFinding Your Precision Ag Mindset
January 15, 2018
A precision mindset is the most important requirement for successful precision ag technology adoption. One of my first VRI (variable Read More
Drone-and-operator-Photo-courtesy-of-Kray-Technologies
DronesCrop Protection Application by Drone: A Q&A with Kr…
January 15, 2018
January is a busy month for agricultural companies. It’s a month that strong sales can set the mood for the Read More
Data ManagementAgGateway Grain Traceability Proof-of-Concept Seeks Ind…
January 15, 2018
AgGateway’s Precision Agriculture and Grain & Feed councils have issued a call for participation for a proof-of-concept initiative in AgGateway’s Read More
John-Deere-Cab-GPS
Data ManagementPrecision Ag Hardware and Software: A Little Off-Season…
January 11, 2018
All service technicians have heard this line. Most often when spring makes its anticipated return to our lives. It is Read More
Corn-Planter
Grower Services & SolutionsCorn Planter: The Train of Consequences
January 11, 2018
It’s always planter season in our shop but now that harvest is done the corn planter is the next piece Read More
Robotics/Labor SaversSmart Ag Announces Driverless Tractor Automation Platfo…
January 11, 2018
An Iowa technology company has unlocked the tremendous potential for automation in agriculture by developing the first cloud-based platform for Read More
Anez-Consulting-Paul-Anez-and-Michael-Dunn
Service ProvidersAnez Consulting: Focus On Fertility
January 9, 2018
Central Minnesota features variability aplenty when it comes to soil characteristics and topography, from flat, black expanses rich in organic Read More
Agrible
Grower Services & SolutionsAgrible to Launch Retailer Services in 2018
January 9, 2018
It’s a new year, which means new market challenges. Full service retailers are searching for ways to differentiate themselves and Read More
jeremy-speaking
Grower Services & SolutionsGrower and Precision Ag Services: Opportunities Lost
January 9, 2018
I often spend time with growers, talking about their operations, and the processes they go through each season to do Read More
Winters-Farming-farm-manager-Alex-Bergwerff-and-Ranch-Systems-marketing-and-business-development-manager-Hylon-Kaufmann
Precision IrrigationInside California Irrigation: Winters Farming
January 9, 2018
As many of us already know, almonds tend to get a bad rap for their water-use efficiency — or some Read More
Sentera software
DronesSentera Offering Elevation Data Mapping Via AgVault
January 9, 2018
Sentera announces the availability of elevation maps within the Sentera AgVault platform, offering agronomists, crop consultants, and growers additional field Read More
Industry NewsRaven, South Dakota State University Link Up: What You …
January 9, 2018
On Tuesday afternoon Raven and South Dakota State University (SDSU) held a press conference on the SDSU campus in Sioux Read More
Agrishow2017
Americas5 Best Ag Tech Shows in Brazil
January 8, 2018
Brazil continues to demonstrate its potential in agriculture. Several international companies are investing in our country because we have a Read More