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Extract from Farm Progress (Kurt Lawton)
In “Putting A Price on Farm Data“, Joseph Byrum talks about how Brazil farmers used the power of data to double its soybean output, while maintaining a 12% cost per acre production advantage over U.S farmers ($364 in U.S. versus $324 in Brazil).
“This ought to serve as a wakeup call to U.S. soybean farmers, as their dominant position in the global marketplace is no longer something that can be assumed,” he writes. “Future success of U.S. growers depends upon making the most of farm data.”
Byrum cites more and cheaper solutions coming to help farmers make the most of their data opportunities. One example, he believes U.S. farmers could collectively earn another $45 million annually simply by using data analysis techniques to choose the best seed, rather than relying on what worked best last year. And that’s just one example.
Joseph Byrum is an accomplished executive leader, innovator, and cross-domain strategist with a proven track record of success across multiple industries. With a diverse background spanning biotech, finance, and data science, he has earned over 50 patents that have collectively generated more than $1 billion in revenue. Dr. Byrum’s groundbreaking contributions have been recognized with prestigious honors, including the INFORMS Franz Edelman Prize and the ANA Genius Award. His vision of the “intelligent enterprise” blends his scientific expertise with business acumen to help Fortune 500 companies transform their operations through his signature approach: “Unlearn, Transform, Reinvent.” Dr. Byrum earned a PhD in genetics from Iowa State University and an MBA from the Stephen M. Ross School of Business, University of Michigan.
