Data Analytics and IoT Devices

SatSure: A Strong Innovative Agriculture Solution which leverages on Advances in Satellites, Machine Learning and Big Data Analytics

January 6, 2021

SatSure is an innovative decision analytics company based in Bangalore, Switzerland, London, and Sydney. At SatSure, advances in satellites, machine learning and big data analytics are leveraged to provide answers to large area questions across the sustainability next of agriculture, infrastructure, and climate action. SatSure’s platform enables combining of satellite imagery with the weather, Internet of Things (IoT), social and economic datasets,  among many others to generate timely, location-specific actionable insights. The core team comes from diverse background of geo-informatics, machine learning, software engineering, and financial technology. 

Challenge

.Agriculture: In India, agriculture continues to be the major employment sector as more than 50% of the  population do farming. The risks associated with the agriculture industry, specifically in India, are  aggravated by various factors, ranging from weather variability, frequent natural disasters, uncertainty in  crop production and market prices, lack of effective rural infrastructure, and market information  asymmetry that reduces the efficacy of risk. Changing temperature and rainfall patterns are increasing the  frequency of extreme weather events around the world. These include increased droughts, heavy rain, and  intense flooding. A United Nations report from 2016 estimates that these extreme weather events lead to  economic losses of $100 billion globally. Agriculture-related businesses were 25% of these losses. Most  agriculture risk assessment requires field labor, making the process costly and time-intensive. Field  research can only provide a limited view of a small geographic area. Because of this, Farm managers are unable to quickly respond to variable weather conditions, resulting in a loss of crops and livestock. More  so, financial institutions lose more money on agricultural lending, leading to lower insurance coverage and access to credit. Furthermore, Governments are unable to have a broad impact through social programs  around their agriculture industries. 

∙ Banking, Financial Services & Insurance (BFSI): The United Nations predicts that the global  population will grow to 9.8 billion people by 2050, and 68% of people will live in urban areas. Extreme weather events will impact property, infrastructure, and lives even worse than before. Typical  information gathering and risk analysis techniques require large amounts of oversight, quality control, and time. Because of this, financial organizations react to ongoing risks with little preparation. Insurance  companies face difficulties monitoring and responding to false claims fast enough; Credit providers are unable to finance rural clients due to weak financial networks and high costs; and Governments and banks are unable to assess risk effectively with incomplete information. 

∙ Infrastructure: Large infrastructure projects suffer from significant under management of risk  throughout the life cycle of a project, as the management of risk isn’t properly accounted for in their  planning. However, major infrastructure projects have a history of problem such as cost overruns,  delays, failed procurement, or unavailability of private financing. Many of the problems occur due to a lack of forward-looking risk management. It is expected that direct value losses due to under  management of risks for today’s pipeline of large-scale projects may exceed US$ 1.5 trillion in the next five years, not to mention the loss in GDP growth, as well as reputational and societal effects. 

∙ Climate Change: India is facing severe consequences due to climate change, such as droughts and floods. As the effects of climate change become more prominent with frequent droughts and natural catastrophes,  investment in technology has to be complemented with investments in the financial services and policy making approach to mitigate its worst effects.

Solution

∙ Agriculture: SatSure enables farmers respond to developing risks with advanced warnings and decision  insights. It improves field operations with strategic information from satellites, sensors, and markets. It also monitors the health of large areas remotely and predict crop yields accurately. 

∙ BFSI: SatSure’s unique expertise in fields like data science, remote monitoring, and financial technology  helps the company to deliver transparent and timely information that’s backed by robust scientific  methods. This distills disconnected data from the world and one’s organization into clear indicators of  risk. SatSure enables users respond to developing risks with advanced warnings and decision insights delivered to them. It enables users implement data-driven strategies down all organizational levels with tailored digital products. 

∙ Infrastructure: SatSure uses analytics software to better manage risks pertaining to infrastructure projects by proactive monitoring using satellite data. 

∙ Climate Change: As a responsible global citizen, SatSure takes its commitment to the SDGs very  seriously. SatSure’s solutions broadly addresses 14 of the 17 Sustainable Development Goals surrounding  the themes of food security, water security, bio-sphere security amongst others. 

Technology: SatSure is actively using 9 technologies for its website, according to BuiltWith. These include Viewport Meta, IPhone / Mobile Compatible and SPF. 

Value Proposition and Key Differentiator 

∙ Crop Insurance: Enables users reduce farmer losses with smarter risk estimates and real-time monitoring.

∙ Agriculture Trading: Enables users find accurate production and acreage estimates for any plot of land.

∙ Agriculture Banking: Enables users improve loan management with relevant data and analysis.

∙ Agriculture Inputs: Enables users understand customer needs with smarter sales intelligence.

∙ Food Processing: Enables users get total visibility into every stage of your supply chain.

∙ Government: Enables users develop effective agriculture policies with real-time information.

∙ Insurance: Reduce administrative costs with remote monitoring and risk profiling.

∙ Credit: Add better risk analysis to your loan management systems. 

∙ Banking: Improve your portfolio strategy and operations across divisions. 

∙ Government: Develop effective policies and programs with up-to-date insights. 

Looking Ahead: 

In future SatSure is going to initiate many important initiatives for easy adoption of new technology for new  farmers, out of which one is international level training center, to be established at Kanke Block in Ranchi District.  This training center will be highly developed where, farmers, Govt. officials and the person who are directly or  indirectly related with agriculture can acquire the knowledge related to agriculture tissue culture plant Production  and uses of Renewable Energy under one roof. Learn more at: https://www.satsure.co/

For more information on the latest developments in the Agritech space visit our page focusagritech.com