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How Big Data Can Be Used To Bet On Climate Change

by Dashboard Insight, Dashboard InsightWednesday, October 30, 2013

Jo Bates explores the use of 'big data' with respect to climate change, how some can use information as a way to exploit climate change for personal / corporate gain.

"The recent news of Monsanto’s $US930m acquisition of data science company Climate Corporation, raises important questions about the economies developing in response to climate change. A new generation of companies have emerged that harness new methods of data analysis to turn vast datasets (“big data”) into exploitable, marketable information. As the Financial Times reported, Monsanto’s purchase signals the first significant “big data” acquisition.

Climate Corporation offers an online self-service weather insurance for US farmers. In addition to the company’s standard crop insurance, this Total Weather Insurance pays out solely on the basis of observed weather conditions, rather than crop damage. If the observed weather conditions trigger a pay-out, a cheque is automatically generated and arrives within days of the end of the policy coverage period."

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Source: Life Hacker

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