FarmForesight
Simulator and decision support system agribusiness skills training
Description
FarmForesight was an advanced IT simulator designed to support skills training and to simulate the consequences of agro-business decisions based on statistical and historical data. The software could also be used as a business planning tool, allowing users to analyse different crop rotation options and price/weather scenarios, thus preventing unnecessary investments risks.
Technology
The agronomic simulations were created based on analytical algorithms that process factual statistics and historical data, with further settings for baseline company conditions, weather scenarios and timeframes, among others. Real fluctuating crop price scenarios, and correlations between current and future prices form the basis of the financial and trading simulations, and the analytical algorithm also took weather scenarios into account from the past 20 years, including humidity and temperature data. Multiple players could take part in the sessions. The simulation could be accessed via the website after registration.
Target
Over 3500 accounts were created and over 20 000 sessions were launched since launch up until October 2022. The software was used mainly for the training of employees of agricultural enterprises and for business analysis and planning.
Business model
The application had two levels of access. The free version was fully functional and allowed unlimited simulation sessions with 24/7 support, while the pro version additionally allowed the selection of different weather and price scenarios, session settings for other players, and more. It was available for $5 for a day, $35 for a month, and $200 for a year. Corporate access could be requested via the website.
Impact
FarmForesight was created to train agro-business operators in the planning of agronomic operations, providing them with the necessary skills to take business decisions and to apply data-driven prevention measures in when encountering risky or crisis situations.
Four Betters
Better production
Better life
