Mar 15, 2012

11 Takeaways from the Commodity Classic


The annual Commodity Classic trade show was held Feb. 29-March 2 in Nashville, Tenn. at Opryland. It’s billed as “America’s largest farmer-led, farmer-focused convention & trade show.”

Attendance was over 5,400 making it the largest Commodity Classic in history, which set the tone for a bullish outlook on agriculture.

Two representatives from Focus Technology Group were on hand for the show—Chuck Buie, vice president of sales, and Mark Emery, vice president of client relations. Chuck and Mark spent four days visiting with growers, exhibitors, distributors, and other guests, while also attending educational seminars on industry trends, best practices, and new technology.

Below are 11 important takeaways from the 2012 Commodity Classic, courtesy of Mr. Buie and Mr. Emery.

1. Commodity prices are generally high, but manufactures and distributors feel comfortable about current prices and valuations on crops.

2. There is a general nervous feeling about a farmland real estate bubble. Some growers cautioned that land is getting too expensive, while rapid expansion continues. A market adjustment or crash may occur, warned some farmers.

3. The continued rise of petroleum and diesel prices hurts Ag margins, and puts extra strain on farmers.

4. The micronutrient/specialty fertilizer and fungicide segments of Ag are growing rapidly.

5. Adjuvants and surfactants are making a comeback because of high commodity prices.

6. Distributor/retail consolidation continues to take place as small independents continue to get gobbled up by regional and national companies.

7. All growers desire precision agriculture, but it requires the right technology and quality data solutions for merging and synching machinery, data sets, and computer systems.
Precision ag technology makes farming operations more efficient and productive.
8. Suppliers and manufacturers of Ag products want to know more information about their supply chain end users and buyers—the farmers.

9. Manufacturers and suppliers of Ag products desire better tools and technology to identify target customers and capture market opportunities.

10. Distributors of Ag products are interested in more online commerce and communication through a self-serve web portal where growers can go to shop and purchase products.

11. More Ag distributors and growers are using innovative tablet technology for accessing information and doing business.


About Focus Technology Group

Founded in 2001, Focus Technology Group Inc., based in Nashville, Tenn., provides data quality solutions to real business needs through its integrated data services, business intelligence applications, and supply chain marketing programs. FTG provides clients with technology solutions and services in areas such as data aggregation and cleansing, electronic data interchange (EDI), data analytics and reporting, CRM, marketing automation, and channel sales optimization. FTG serves four primary industries—animal health, pet specialty, agriculture, and health care.

Mar 14, 2012

Big Data Trends

Excellent article and research from McKinsey & Co. analyzing big data trends.

Big data: The next frontier for innovation, competition, and productivity

The amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office. Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future. 

In the research article, McKinsey presents 7 insights about data's impact on business and the world economy. Some highlights:


>> Data has swept into every industry and all business function and is now an important factor of production, alongside labor and capital.

>> The use of big data will become a key basis of competition and growth for individual firms.

>> The use of big data will underpin new waves of productivity growth and consumer surplus.

>> While the use of big data will matter across sectors, some sectors are set for greater gains.

>> There are five broad ways in which using big data can create value.