Hydrosat has revealed unparalleled results from the successful Beta run of the firm’s Crop Yield Forecast product in summer 2022. Hydrosat piloted its Crop Yield Forecast with an exclusive set of users that included Fortune 500 agriculture and food processing companies in the United States and Europe.
Compared to actual crop yield numbers, Hydrosat’s U.S. Corn Forecast had an error of only 0.75%, while the U.S. Soybean Forecast had an error of only 1.01%. This level of accuracy outperforms other commercial yield forecasts and demonstrates the advantage that infrared imagery and machine learning bring to the analysis.
Hydrosat’s Crop Yield Forecast uses satellite imagery and artificial intelligence (AI) to deliver highly accurate data to market faster than traditional reporting – enabling agribusiness and trading firms to access critical crop information and support data-driven decision making. Hydrosat’s results are more accurate than other sources and they were also available in July, weeks before other forecasts. Early access to this information enables agribusinesses to significantly reduce operational risks and increase profits.
In addition to its crop yield forecast product, Hydrosat also provides real-time crop maps across the entire United States. Historically, growers had to wait until well after the season was over to learn what crops were planted. Now, Hydrosat has cracked the code of crop classification using machine learning and satellite imagery, and delivers the most accurate in-season map ever developed.
During 2023, the Hydrosat Crop Yield Forecast will expand coverage to Canada, with Europe soon thereafter. Eventually, the company plans to offer yield forecasts for the entire planet, vastly improving supply chains and enhancing food security.
“We knew satellite infrared data and machine learning was a game changer,” said Hydrosat President, Royce Dalby, “but these results are even better than expected. Now companies can manage their supply chains far more precisely than ever before.”
“The deployment of Hydrosat’s proprietary, thermal infrared satellite constellation will give Hydrosat’s crop forecasting customers a significant edge,” said Hydrosat CEO, Pieter Fossel. “Hydrosat’s thermal data will provide an earlier indicator of plant stress and development than existing data sources, further enhancing the value we can deliver to our customers.”