Corporate Farming: Investment Opportunities

About 10,000 years ago, historians say, man began to domesticate grain yielding plants and settled down. Thus, agriculture is considered as the oldest of enterprises. It has undergone very many changes particularly in the last 100 years. Over the last century, technology has played the key role in restructuring agriculture and elevating it to the status of a modern, corporate business entity from what it was since the time of the earliest cultivation – the primary industry. Modern agricultural technology encouraged the participation of corporations in agriculture by bringing in investments, scale of economy and efficiency in resource use. Many believe that corporate farming destroys family farms because of the perceived effects on the rural agrarian economy. On the contrary, the proponents of corporate farming argue that corporatized agriculture leads to more efficient production and more social benefits. The numbers however speak for themselves. Since 1920s the number of farms in the U.S. has steadily dropped from around 6.5 million to 2 million. Similarly the proportion of population that lived on farms came down from 30 per cent to under 2 per cent.

Corporate farming: Towards efficient agricultural production
Historically, agriculture has been a family firm structure. This is due to interdependence of certain operations of farming with others and their interplay and seasonality. This, to a great extent, limited its ability to specialize and promote efficiency. In the past three decades or so, there is a surge of corporate influence on farming. The family farms mostly carried out their businesses locally- procuring inputs and selling their produce from the local markets. Corporate farms procure their inputs and source their working capital from large suppliers at huge discounts. Corporate farms can also access most modern technology and vertically integrate the entire process of production, value addition and marketing. When economies move from businesses that are dependent on natural cycles to those that are independent on such cycles, factory-style corporate industry will take hold of most businesses. Agriculture is not an exception to this. For instance, livestock farmers have been able to earn steady returns as the production technology improved and drastically reduced dependence of livestock production on nature. This makes livestock farming a perfect investment option for corporations. The ability of corporate sector to extract the benefits of economies of scale by way of minimizing input costs and maximizing output while leveraging technology to keep the risks under check, makes corporate farming a good business sense.

Corporate farming: Road ahead
In the globalized economy corporate farming is better equipped to bring out the farm products at the right time, place, quality and price to meet the consumer demand. Traditional family farms would certainly have difficulty in responding to the global market. Keeping in view the role of nature in the current state of grain farming technologies, there are still many negative externalities for corporations to enter this sector unlike livestock sector. Once the technologies enable corporate farms to ensure gains outweighing externalities, which is very likely in the near future, corporate farming will offer huge investment opportunities.

How Data Analytics is Transforming the Insurance Industry

Insurance Industry collects and processes a huge amount of data of their customers. This data is usually collected by insurance professionals using manual methods like filling up of printed forms which is later on sent for processing. Underwriters in insurance companies evaluate the risks of an insured person using personal details and claims data to calculate the gross and net premium for policy issuance. Such kind of data is usually stored as standalone information and is difficult for insurance agents to access or share to relevant stakeholders. Such kind of data is also difficult to analyze and use for decision making resulting in higher cost and loss in sales.

Insurance Data Analytics helps insurers by providing accurate data and intelligent insights on every aspect of life insurance. Data Analytics helps in acquiring the necessary data in a very short amount of time and provides solutions which customers actually want. It also helps companies to improve the customer experience while cutting claims handling costs and eliminating fraud.

Data Analytics in Insurance Industry is also helping companies to mitigate risk by providing analyzed information in a timely fashion. It provides information alerts explaining the risk attributes and proposes a solution to resolve the issue. Insurers are also using predictive data analytics to fast track claims and process them with little or no human intervention. The traditional way of analyzing data has limits for newer categories like food safety, cyber or supply chain disruption, by using the Data Analytics tool insurer is able to overcome such limitations.

In the modern world, data analytics is transforming the insurance industry in the following ways.1. Handling fraud cases – Insurance Data Analytics has been extremely helpful in identifying and resolving fraud cases. By using Social Network Analysis and telemetric a large amount of data can be checked in a very short span of time thereby reducing the number of fraudulent claims. This has led to a substantial cost savings of Insurance companies and has also helped to prosecute offenders.2. Customer-centric- Latest Insurance Data Analytics tools have also helped the insurance industry to be more client-centric. Insurance Management Solutions by use of Technology also provides actionable insights into customer data thereby allowing agents to make informed decisions. An agent can have a complete overview off his client’s portfolio and help in bridging any possible gaps in client’s policy. He can then actually let the client know about what is missing in the policy, which not only enhance customer satisfaction but also increases sales.

3. Subrogation cases – Huge amount of data is received and required for subrogation cases which may come through medical records, police records or any other source. Insurance Data Analytics provides phrases that can show that the cases being investigated are subrogation cases.4. Premium pricing- Insurance companies have traditionally relied on statistical predictions like “the law of large numbers” to fix policy prices which are generally not accurate. Advanced Insurance Data Analytics logarithms allow insurers to fix policy premium pricing, provide customized product offering and do profitability analysis of policies offered.

5. Handling Complex cases – Data Analytics in Insurance sector has also enabled insurers to handle complex cases efficiently. By using data mining techniques where claims are categorized and scored as per their importance, claims are prioritized and settled accordingly.

6. Case settlement – By the use of Data analytics, it is possible to check and analyze the claims of each customer quickly and easily. This helps reduce employee’s work costs as they don’t have to check and analyze data regarding the claim manually. It helps in the processing of customer payouts faster, thereby increasing customer satisfaction and reduction in lawsuits.

Top 5 Reasons For SharePoint Intranet Software

There are plenty of third-party providers who develop Intranet Software for organizations, but none would match the services provided by Microsoft owned Sharepoint Intranet software!

Why?

Well read below about some of the top 5 reasons for using the SharePoint Intranet Software and you will get to know!

The Market Leader

Sharepoint Intranet Software was released in the year 2001 as a document management system. Then later, in 2003, it was added with the web content publishing capabilities. Now, Microsoft Sharepoint is undoubtedly the market leader in the field of Intranet Software.

A recent study by the Radicati Group shows the numerical figures. It states that more than 80 percent of the Fortune 100 companies make use of this Microsoft development Intranet Software for managing their internal operations. Also, it’s an essential software used by 70 percent of knowledge workers.

Also, it was found out that almost 75 percent of the Intranets implemented by the organizations around the world were built on Microsoft’s SharePoint.

Integration With Office365

Office 365 is another office management software developed by Microsoft. Almost everyone around the world, especially in an office environment, makes use of Office365 for creating office related documents like files, presentations, etc. So another advantage that SharePoint Intranet Software provides is that it can be integrated with Office 365.

Out of the Box Flexibility

The needs and requirements of various organizations will be different. Hence its is very important for the platform to be customizable. It makes sure that the intranet built is engaging, thus deliver higher efficiency.

Platform Stability

Sharepoint is a crucial software product offered by Microsoft Corporation. They are no other Sharepoint alternatives to match their performance. Hence, they are continually trying to maintain their market monopoly by partnering with third parties to enhance the functionality of the software. This trend is only expected to grow and thus provide a higher stability rate compared to other service providers.

Data Security

The value of data in this digital age cannot be explained in mere words. So the necessity of your data being safe is very important. Sharepoint keeps your data secure at multiple levels using the latest security standards.

Final Thoughts

SharePoint Intranet Software is undoubtedly the leading platform that enables you to manage your internal office operations with ease. Efficient document management, out of the box flexibility, popular office management tools are some of their advantages.

Well, do consult a leading SharePoint development company for implementing the same in your organization or for more details!