The following profile was compiled from an interview with John Terzich, Director of Sales at Lanworth. Read on to learn how they are using technology to generate revenue.
Get some valuable advice and the recipe to this business’ Secret Sauce!
Lanworth’s Real-time Acres and Yield product uses daily satellite imagery to develop timely, accurate
estimates of agricultural production in key international markets. Satellite imagery, analyzed in the context of local soil, weather, management, and plant genetic conditions, provides spatially detailed crop area and yield estimates at national scales.
Lanworth uses satellite data from both public and private satellites to deliver daily crop information globally. This solution acts as a revenue generation tool for our clients as well as a risk mitigation tool. Our model delivers revenue in two ways- Subscription revenue to our portal and bi weekly reports, along with proprietary projects.
The users of our technology are Hedge Funds, Commercial Food Companies, Commodity Trading Firms and Agricultural Producers. Our clients use our information to trade and hedge commodities as well as perform long range supply chain analysis.
Digesting the vast amounts of data daily required re-architecting of our infrastructure and implementing open source Linux servers, which are reducing our costs on computing. Lanworth’s data storage and processing is growing at approx a terabyte a month, Bringing in that much data from satellites and then analyzing on a daily basis requires highly scalable and powerful systems.
We are seeing exponential growth within our premier subscriptions and special projects, we are looking to create a seamless data portal for crops on a global scale with real time crop information updated daily. We currently offer the portal for US markets. Years ago this program would not be feasible due to the cost of data acquisition and storage, as costs continue to come down per gigabyte we see enhanced information with more frequent updates and increased resolution as key product improvements.
Invest in proper architecture with long term goals in mind…build the right foundation and growth is much easier.
For more information, visit www.lanworth.com.