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What Are the Economic Benefits of Precision Agriculture?

Updated: Jan 18, 2023

Farm data insights are integral in helping you realize the economic benefits of precision agriculture technology. Learn how Agxactly can help you collect and analyze crop insights for increased yields, monitor farms, and estimate yields.

What are the economic benefits of precision agriculture to farmers? And is precision farming even worth it?

Well, answering this question needs a critical look at how farming has changed. And it's no secret that you are facing an uphill battle as a modern farmer.

Climate change has caused droughts, floods, and unpredictable weather patterns affecting your ability to grow crops as you have in the past.

As a result, you have to look for new ways to improve your crop yields while using fewer resources than ever before.

And this is the entry point of precision farming and its benefits.

What is Precision Agriculture?

Precision farming, abbreviated as PA, is a farming management strategy involving data collection, measuring, analysis, observation, and responding to variables appropriately.

Agriculture precision is also known as precision farming, site-specific crop management, as-needed farming, or satellite farming.

It entails using technologies such as sensors, drones, and other analysis tools for field data collection to provide crop insights and enable action-taking.

Other technologies include satellite imagery and GPS mapping systems to ensure each plant receives just enough inputs. This enables the plant to grow at its highest potential without wasting resources.

Additionally, precision agriculture allows you to monitor your fields remotely so you can identify problems early on before they become more costly problems down the line, such as insect infestations.

Generally, precision farming offloads the burden of uncertainty because it offers better crop insights.

And working with Agxactly, we will help you increase your yields, provide real-farm updates, and predict your yields fo better decision-making.

The 7 Economic Benefits of Precision Agriculture

Ask Agxactly about the economic benefits of precision agriculture, and we will provide precise answers.

This is because we are experts, and over the years, we have done the cost-benefit analysis of precision agriculture and found out the following.

1. Precision Farming and Reduced Wastage

Agriculture precision is the way to go if you want to reduce and eliminate wastage, especially in input applications.

With precision farming technology, there is less need for human labor because these tools cover more distance in less time.

Furthermore, precision technology provides better avenues for decision-making in input applications. This means efficient use of inputs when and where needed, thereby reducing the farm's overall operating costs.

2. Precision Farming for Better Yield Prediction

One of the main economic benefits of precision agriculture is the ability to predict yields.

Economically, if you cannot predict your yields, you can't plan how to market your crops or maximize profits.

However, precision farming empowers you to forecast your yield volumes and harvesting period by providing data and insights; thus, you can seek the market confidently.

3. Precision Farming for Sustainability and a Clean Environment

Traditional farming practices have, over the years, contributed to environmental degradation. And climate change is a huge challenge today, more so for farmers.

But precision agriculture allows sustainability enabling you to farm in an environmentally friendly way, significantly reducing the impact. With precision, you use exact inputs at specific fields and times.

This means less fertilizer and less runoff into lakes and streams, which helps protect your water supply from pollution.

In fact, according to the International Finance Corporation, precise farming enables climate-smart agribusiness.

4. Precision Farming and Saving Time

Precision farming provides real-time crop insights, enabling you to take more prompt actions.

Prompt actions translate to fewer trips for fertilizers, pesticides, or water applications, thus saving you valuable time.

5. Precision Agriculture for Improved Yields

Precision agriculture helps you know exactly how much fertilizer, water, or pesticide to apply to each part of your field, thus reducing excesses.

Such preciseness provides crops with optimal nutrients leading to increased yields.

6. Precision Agriculture Provides a Better Understanding of Your Farm

Precise agriculture technology provides crop insights throughout th growing season. Such information allows you to understand your farm better for exact decision-making.

In the end, these insights lead to improved farm management and planning.

7. Precision Agriculture for Better Soil Health

Practising precision agriculture helps you know where nutrients are needed in your soil. From soil moisture detectors and Additionally, applying the required nutrients helps keep your soil healthy.

Precision technology allows you to monitor how much fertilizer or pesticides are used on each field, so you can use exactly as much as is needed without overdoing it or underdoing it.

Realize the Economic Benefits of Precision Agriculture with Agxactly

With Agxactly, you can harness the economic benefits of precision agriculture. We understand the power of precision farming in providing real-time data and crop insights for better decisions.

Our farm analysis tools help you understand what is happening on your farm. We will enable you to farm precisely by employing our cloud technology, sensors, drones, and analytic tools.

Contact us today and unlock the full potential of your farm.

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We are proud to announce that Brooks McChesney has agreed to join the AGXactly Board of Directors. Throughout his career Brooks has succeeded as an entrepreneur and senior executive in technology comp


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