04.11.2023
Weather forecast will help businesses in their decision making
Nowadays, weather forecasts are not just information that people rely on when they leave their homes. It is also the data required for a wide range of business applications. For instance, temperature changes, precipitation, drought or frost are of great importance for agriculture. Thus, according to IBM, weather events are responsible for 90% of crop losses. At the same time, 25% of such losses can be prevented with the help of weather forecast modeling.
A change in air temperature in either direction can stimulate additional sales growth for a wide variety of products, from clothing and cosmetics to climate control equipment. The forecast of impending weather deterioration (rain, frost or snowfall) can prepare both taxi and courier services for increased demand.
Under such conditions, businesses are becoming increasingly interested in weather forecasting technology. In 2022 only, the global weather forecasting market size was $2.4 billion. By 2030, it will grow to $3.5 billion.
In Russia, the Yandex Weather service has recently launched a platform for business. In other words, it's the same weather forecast and precipitation map, but with a B2B bias. As the developers explain, the platform can be used to receive weather data, forecasts and recommendations on when it is better to carry out certain works.
The service will provide weather information anywhere in the country, as well as over a hundred scenarios for its use for different types of businesses. For the most part, the recommendations are focused on agribusiness, retail, logistics, energy and insurance.
Yandex Weather uses Meteum technology, which is powered by machine learning. Data from radar, satellites, ground stations, and even reports from local residents are taken into account. Currently, you can try out the service by submitting an application on the project website.
It is worth noting that the weather forecast market is actively developing not only in Russia. For example, back in 2015, IBM bought The Weather Company and became the largest provider of weather forecasts for business.
Furthermore, the American start-up Jupiter Intelligence is now analyzing flood risks for insurance, commercial real estate, ports and people. "IBM and AccuWeather make weather forecasts. In contrast, we predict exactly how the weather might affect certain objects," stated Rich Sorkin, founder and CEO of Jupiter Intelligence. With artificial intelligence technology and detailed terrain data, he said, risks can be predicted very accurately, and customers are willing to pay for that information.
Unsplash / NASA / Wolfgang Hasselmann
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