Farm Score for Banks — Compare Farms and Derive Useful Insights
There’s an uproar about how much the social media giants, Google and Facebook, should know about us, how it can harm us while all we concentrate on is how it is benefitting us.
Gmail intercepts what you want to write and dramatically reduces your content creation time, e-commerce picks up your shopping habits and alerts you in case of discounts on your shopping cart and even tickles you about your idiosyncrasies.
The debate is on-going drawing ayes and nays constantly and while we all favoured Mark Zuckerberg for the difference he made to connectivity and how AI has been very impressive, we never thought he would be in a tough spot.
Whether it is a car you want to buy or sell or home appliances or medicines, you have delivery, choice, discounts and home delivery and if you are a compulsive e-commerce patron you would know how qualified this information is, you are much more informed for someone put in the right gradient of information and took the trouble to answer each one of your queries.
While most of us urban dwellers are challenged with the constant infringement of our privacy, be it the spam emails or the telemarketers, have you thought of living a decade back when we were handicapped for want of information and options?
That’s your remote farmer, cut off from the world, he wouldn’t know about the one-hundred-and-one calls you receive daily about your options or any decision in particular or any teeny-weeny purchase in general. He does not receive even one call!
Especially your smallholder farmer in Odisha or Vidarbha, he does not have access to the science of cultivation or modern marketing or encashing from the improved network for value-added products. He doesn’t know you and you don’t know him! So there goes a grand opportunity for greener pastures.
No details, no progress report, no paper trail, no identity! This farmer needs a break!
Farm Score is the Ticket to Success
A break from the archaic methods that decide his fortunes or the lack of them. He needs a report card that paints the whole picture to his business prospects and financers but he doesn’t have a loan history, no payslips, no bank transactions, no passbook.
But he has a growing crop, his experience and his carefully tended soil that will bear the testimonials he needs.
Benchmarking is the formula arrived at by collecting data, calculating and grading the points to all important parameters collected on-farm performance from surveys of large and small, clustered and unclustered farms. This is standardization that will save all suppliers and users from reinventing the wheel for themselves and also for competitive analysis by classifying all the farms under their jurisdiction as high, weak and average farms.
He needs a farm score — this score is based on parameters like soil, weather, crop, agronomy, water, remote sensing, geophysical that contribute to being the deciding factors of a farmer’s.
Technical efficiency occurs when the maximum amount is provided given a set of inputs. Farm Score is a relative score, like a credit score, ranging from 0–1000. The higher the score of a farm in a portfolio of farms, the higher the probability of its economic success of that farm in comparison to other farms.
Farm Comparison as a Logical Differentiator
Records are important to the financial health of your farm and just like flying colours on a report card will not ensure a flying career for you or a happy future, lack of a report card could definitely spell trouble.
Of course, it allows you to compare your grades with those mischievous other students and what they have been up to the whole year, just how smart they have applied the practical knowledge imparted to them over the generations and their experience. It gives you a SWOT analysis of the farms, it is the health barometer of your farm operations.
A Data-Driven Sector Like Banks Apply FarmScoring
The handiest management scoring tool is the most logical method of analyzing and can be widely used by banks, suppliers, distributors, the entire agro-economy and the various agreements drawn between all the related parties. FarmScore is relevant for any organization for which smallholder farmers are potential partners.
By using FarmScore, lenders will be able to identify potential borrowers, buyers can identify reliable sources of production and service providers can better understand and segment the potential market to identify farms that may need certain inputs or training.
At FarmGuide, it is a mantra to change the way cultivation is done by unearthing all facts, figures, and even fiction that will enable regrowing an economy that works for the farmers too and their only aspiration is to invent better ways of finding and presenting data.
