In today’s era, Amazon doesn’t need humans to make recommendations nor does Google to execute search. Instead, each company is delivering value through a new engine of execution called Artificial Intelligence. Powering this engine is a fuel that has quickly surpassed oil as the world’s most valuable resource: data.
As the urgency to amass data has increased, companies have rushed to retrofit virtually every device, including combines, tractors, and planters, into miniature factories for creating data. While going about their everyday lives to grow crops such as corn, wheat, and soybeans, growers are concurrently producing a different but equally valuable commodity, data.
While large corporate conglomerates and farm-tech entrepreneurs have utilized the data produced by growers to generate billions in value for themselves, critical constraints have to-date prohibited growers from receiving any benefit from the valuable resource they produce.
For data to have value it must be accurate. Unfortunately, most ag data today is plagued with duplicates and inaccuracies. Much of this can be attributed to a lack of incentives. The time to clean data doesn’t create a justifiable return on investment because:
The second characteristic required for data to possess value is quantity, meaning there must be a lot of it. To amass the quantity needed, data must be aggregated. Unfortunately, ag data is the exact opposite; highly fragmented and siloed in disparate software systems with no easy way to be aggregated. Without aggregation, data remains useless.
A standard and universally adopted platform equipped with both the data management functionality desired by growers and end-to-end integrations to allow for the seamless flow of data both in and out. Most importantly, this system will be forever free of charge.
The platform will automate the data refinery process using a series of algorithms to gather, clean, and aggregate data. The system will autonomously distill and repurpose data to meet the specific needs of potential buyers.
Like Airbnb and Uber, Verdova will create a marketplace that eliminates traditional barriers, creating a way for growers to sell data directly to end users at scale. Most importantly,growers will retain 85% of the revenue generated from the sale of their data.