Farmobile, the farm data company, today launched the Farmobile Data Store. Farmers can now sell their agronomic and machine data to vetted third parties on their own terms. The Farmobile Data Store makes fair, secure farm data transactions possible.
Farmobile is seeding the Data Store by guaranteeing farmers at least $2 per acre, up to 250,000 acres of Minnesota farmland in total. To qualify, farmers must submit completed 2016 Electronic Field Records (EFRs) spanning both planting and harvest.
The company’s pro-farmer revenue model is transparent by design. All Data Store revenue is split evenly between the farmer and Farmobile. For example, on a $1,000,000 purchase, farmers would see exactly $500,000 in their pockets as a result. There are no special cases and no fine print.
“Our business is built on the conviction that the data farmers generate is inherently valuable. We’re so confident in the value of complete, portable farm data that we’re guaranteeing farmers will make at least $2 per acre for their EFRs in our Data Store.” said Jason Tatge, founder and CEO of Farmobile. “In fact, farmers will likely make more as the Data Store grows. This is the beginning of something really big.”
Farmobile’s data standard, the Electronic Field Record (EFR), unifies and stores field data sets in a portable format, regardless of manufacturer or format. Inputs and outputs are presented in a single, cohesive view. A completed EFR includes: planting date, crop, variety and population, as well as harvest date, total production, average yield and average moisture.
Participating farmers will use a small device called the PUC (passive uplink connection) to gather EFR data. The PUC installs on machinery of nearly every make and model in 5 minutes or less.
EFRs are well-formatted and easily sharable, saving farmers valuable time and keeping trusted advisors and farm managers in sync. In addition to data revenue opportunities, farmers can choose to freely share their EFR data with insurance agents, agronomists, equipment dealers and other partners they trust.
Farmobile’s innovative contract terms ensure that farmers own their data outright, forever. Farmobile is one of the first three companies to obtain the Ag Data Transparent Seal of Approval from the American Farm Bureau Federation.
“Minnesota farmers grow some of the very best crops in the world, and it’s where I grew up. They are among the most resilient people on the planet. I can't imagine a better place to break new ground with a modern agricultural data exchange such as ours,” said Tatge.
Based on early feedback, Farmobile is already speaking with other regions about similar programs possibly starting this Fall, just before harvest.
“We are delighted to be able to facilitate agricultural data transactions in a transparent way for the first time,” said John Ihlenfeld, owner and operator of Ihlenfeld Farms in Owatonna, Minn. “For too long our data has been taken, shared and even sold without our awareness. We need true transparency and data ownership; control isn’t enough anymore.”
A complete list of required data, eligible geographies and other key terms can be found here: www.Farmobile.com/DataStore
Anyone interested in responsibly paying farmers for EFR data via the Farmobile Data Store is encouraged to contact the company here: Farmobile.com/Contact