Commentary

Embracing the mantra “Innovate or Die” is common among many companies. Managers understand the necessity of constant improvement to stay ahead of competitors. However, in my conversations with companies, many struggle to develop meaningful innovation strategies. Innovation often ends up in the realms of serendipity or randomness.

The agriculture and food industry is a highly complex and interconnected system that relies on various stakeholders to ensure the production and delivery of quality food products. In recent years, the industry has experienced a rapid growth in the amount of data generated from various sources, including IoT sensors, GPS trackers, and weather stations, among others. However, this abundance of data has created new challenges, especially regarding data interoperability and interconnectivity.

It is more than clear now that data-driven decision-making is crucial for any company that aims to remain profitable and competitive in today’s markets. Agribusiness’ companies are no exception to this rule. More than just basing their decision-making on data, a company needs to fully embrace the concept of competitive intelligence, in which the right data, at the right time, analyzed in the best form, communicated optimally, and acted upon will produce competitive advantage.

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