Farmers today face a number of new challenges that their predecessors didn’t have to worry about. With worldwide marketplaces for food and other products, agricultural farms in Colorado, with or without livestock, need to pay close attention to their profits and other yearly marketing factors to stay competitive over time. If you raise livestock, it’s a good idea to seriously consider the benefits of utilizing livestock analytics to improve your farm’s business strategy.
What Is Livestock Analytics?
Every strong business needs to incorporate risk management into their everyday business practices in order to stay successful. Before a business owner can determine what risks that they are taking and consider other important data, there needs to be a simple and precise way to analyze the information. More farmers today are relying on cutting-edge technologies and computer platforms to analyze their livestock data throughout all of each livestock animal’s life stages through to the end marketplace stage.
Analyze Life Stage Data to Manage Overall Risks
Having this important business data in an easily accessible place when needed is crucial for today’s agricultural and livestock farms across the country. Farmers in Colorado will likely have different data and risk management plans than farmers in tropical Florida. This is where installing computerized programs that are easy to set up and use can simplify this necessary business process.
Helpful Data Collection Technologies Available for Farmers
There are several terrific new data collection technologies that are available to farmers today. Some examples include financial software packages like Linus 7 able to manage risk factors. Also consider the Navigator which is a lot-by-lot computer program format that handles hedge reconciliation. Some livestock farmers rely on Encompass, an end-to-end, all-encompassing cattle management program.
If you want to find out more about livestock analytics and how it could benefit your farming operation, contact Compass AG Solutions today for more information.