Developing an Online AgTech Savings and benefits Calculator
An AgTech savings and benefits calculator is in development to support decision making around the relative cost-benefit of various on-farm technologies.
| Publication date: | 01 July 2022 |
| Project status: | Completed |
| Livestock species: | Grain-fed Cattle, Grass-fed Cattle, Sheep, Goat, Lamb |
| Relevant regions: | National |
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Summary
This project “Developing an Online AgTech Savings and Benefits Calculator” was undertaken to further refine a concept excel-based cost benefit estimator tool for on-farm technologies. The project sought to test the calculations, use cases, functionality and the merit of an online tool to inform the development of a fully functional cost benefit estimator tool in the future. The target audience for the project was primarily producers, with benefit also provided to AgTech vendors (who seek to develop solutions that add value to producer’s operations) and potential funding partners (who seek to understand the value proposition for such a tool, including its application beyond the red meat industry).
Objectives
• Test the use cases, data sources and calculations provided by the excel based tool (Achieved)
• Confirm the industries preferred form of an estimator tool (e.g. excel, online) (Achieved)
• Develop and test a clickable prototype for the online delivery of a tool to inform the functionality and user experience of a fully functional tool (Achieved)
• Identify potential funding partners interested in supporting the further development of the tool (Achieved)
• Identify additional opportunities for the application of the tool, such as MLA’s measurement of Smart Farm sites and MLA funded projects involving use of AgTech on farm (Achieved).
Key findings
Project feedback can be incorporated into a minimum viable product (MVP) online tool in the future. The project also engaged producers, vendors and potential funding partners for the MVP moving forward. Industry stakeholders expressed a clear desire for the tool to be made available in an online format (as opposed to excel-based) for ease of use and maintenance of data sources (i.e. technology and on-farm costs) to be analysed by the tool.
Key results of the project were as follows:
• confirmation of the value proposition behind a cost and benefit estimator tool
• confirmation of industries requirement for the tool to be online based
• confirmation of key features of such an online tool
• identification of potential funding partners to support the ongoing development of the tool.
Benefits to industry
The project identified and quantified ways in which investment in and deployment of AgTech solutions could support productivity of farming operations. This project forms the basis for expansion into further use cases that will benefit industry.
The project has also identified a tool that will enable MLA to measure the performance of its Smart Farm Sites, supporting the efficient expenditure of levy payer contributions.
Finally, the project has identified a tool that could potentially be applied across sectors broader than red meat, supporting the productivity and profitability of multiple sectors of agriculture.
MLA action
MLA is engaged in continuing discussions with KPMG to develop a minimum viable online AgTech cost and benefit estimator tool to inform producer decision making regarding implementing on-farm IoT.
Future research
The project has identified a need for further R&D in the following areas:
• development of a minimum viable online AgTech cost and benefit estimator tool to inform producer decision making
• research into the application of the online tool to inform MLA’s measurement and evaluation of the performance of its Smart Farm sites and funded deployments of AgTech in MLA projects
• engagement with selected stakeholders to support the funding/expansion of the online tool.
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For more information Contact Project Manager: John McGuren |
