Managing a dealership hasn’t gotten any easier in recent years, and leadership within large and small-store operations are still scratching their heads over where to take their precision business in the future.

The logic of bigger is better with ag machinery comes with operational and economic considerations. Farmers have to weigh the efficiency of covering more acres with the cost of purchasing larger equipment. So at what point will ag machinery outgrow its investment value?

Assessing the performance and production of a precision farming team can take into account several factors. Customer service and communication skills are less quantifiable than sales volume and service hours billed.

One of the critical drivers of widespread adoption of autonomous ag technology will be cost vs. value. Like any new technology, there will be a learning curve and fusion onto the farm will be gradual. Dr. Scott Shearer, ag engineering professor at Ohio State University, doesn’t foresee automation being a wholesale replacement to human oversight on the farm.

Immediately following the release of its 5-year plan to significantly increase its investment in autonomous ag technologies, Raven Industries acted on that strategic plan with the acquisition of 2 independent autonomous companies.

While strides have been made establishing precision as a standalone business, dealerships continue to seek a better balance between revenue generated by hardware sales and service. This mindset is reflected in a continuing trend toward a more balanced breakdown of precision revenue sources in the seventh annual Precision Farming Dealer Benchmark study.

Finding and retaining precision farming talent has long been a challenge for equipment dealers, as many look to expand or evolve the scope of their business. While recent years have seen a slowdown in hiring plans, dealers plan to be more aggressive in adding precision specialists during the coming year.

Data sharing continues to be a source of both opportunity and irritation within the ag industry. While some farmers have pursued the potential advantages of sharing field data, others are reluctant to grant access, control or ownership of that information to third parties.

The last several years have seen rapid changes in competition and collaboration within the precision farming industry. Major manufacturers have been active in acquiring boutique precision companies to complement equipment offerings.

2019 has seen interesting new developments in market sentiments, with dealers continuing to slowly move away from hardware and steer business objectives toward data management for future revenue, according to the seventh annual Precision Farming Benchmark Study.