Karnataka ties up with Microsoft to develop India’s first Farm
Price Forecasting Model
First-of-its-kind initiative
in the country will take into consideration factors beyond the conventional
supply-demand equation.
If all goes according to
plan, software giant Microsoft
will come to the aid of farmers in Karnataka who constantly struggle with an
unpredictable market.
The Agriculture Department
has signed a Memorandum of Understanding with Microsoft India to develop an
unique ‘farm price forecasting model’ using the latest IT tools in a bid to
help farmers, administrators and other stakeholders understand the market behaviour
in advance.
The proposed initiative is
said to be the first-of-its-kind in the country, as it is a ‘multi-variate’ one
that takes into consideration various factors beyond the conventional
supply-demand equation. It will examine a slew of related factors, including
weather, rainfall and external factors, that impact market behaviour.
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