By Keiter CPAs
How can data be used to serve the agriculture industry?
Data Science can help you achieve your business goals with tailored advice specific to your organization. Learn more about how Keiter Data Solutions solved a similar problem for one of our clients in the below case study.
Challenge and Opportunity
A retail agricultural cooperative serving the agronomy, energy and farm supply needs of its members and customers across eight states wanted to help its members by creating a tool they could use to predict when its tractors needed maintenance service.
Approach
- The team carefully analyzed the data provided by members of the cooperative regarding the tractor’s maintenance schedules recent repairs, brands, and usage hours.
- Using Python, the team developed a predictive model which specifically outlined when equipment would need repair or maintenance.
- The model was created to be easily accessible to the cooperatives over 200,000 farmer-members.
Results
The model successfully predicted tractor maintenance needs and reduced offsite equipment failure rates by 90 percent. This resulted in increased profit for the cooperative’s members.
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About the Author
Keiter CPAs
Keiter CPAs is a certified public accounting firm serving the audit, tax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial services, construction, real estate, manufacturing, retail & distribution industries and nonprofits. We also provide business valuations and forensic accounting services, family office services, and inbound international services.
More Insights from Keiter CPAsThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
