For agriculture in Australia, the increasing focus on analytics comes at a time of great opportunity. A recent report from ANZ argues Australia could increase wheat production by 20 per cent, from 25 to 30 million tonnes by 2030, which would see the sector generate an additional $A1.3 billion in value to a total of $A7 billion.
In late 2015, a separate report suggested a rise in annual milk production (8.4 to 15 billion litres per year) could net Australia's dairy industry another $A1.3 billion in annual export value by 2025.
The resurgence of rural and regional Australia is real. We are seeing fresh evidence of renewed confidence almost every week.
Globally the agricultural sector is increasingly under intense focus. The world seeks to feed a population set to grow by two billion people in less than 25 years – as well as a large growing middle class, particularly in China – through new technology and investment.
This impacts every layer of society – from farmers to consumers globally, and across governments and the private sector.
Agriculture has already seen its share of technological innovation, from robotic dairies to satellite crop mapping.
But the potential implications of using data to its full potential could stretch right across the immense agricultural supply chain.