E32: A Powerful Formula for Your Farm Management Decisions

07/28/20 • 10 min

In this episode, Nick discusses a powerful formula which should be the building block for many of the management decisions you make on your farm. It's the Expected Value formula.

You can learn more about it in this Harvest Profit blog post: https://www.harvestprofit.com/blog/you-need-a-statistical-framework-for-farm-management-decisions

In this episode, Nick discusses a powerful formula which should be the building block for many of the management decisions you make on your farm. It's the Expected Value formula.

You can learn more about it in this Harvest Profit blog post: https://www.harvestprofit.com/blog/you-need-a-statistical-framework-for-farm-management-decisions

Previous Episode

E31: July 1 Should be a National Holiday for Numbers Nerds

It's likely that you've heard of Bernie Madoff and his $65 billion dollar Ponzi scheme.

It's less likely that you know why July 1st is one hell of a day of the year for retired Major League Baseball player Bobby Bonilla. He gets his annual payment of $1.19 million from the New York Mets today.

That's what we discuss in today's podcast and the applicable farm management lessons.

Next Episode

E33: In The Age of Big Data, Focus on Your Farm's "Small" Data

In this episode, Nick discusses his thoughts on how/why you should build a culture of experimentation in your farm. He discusses a six-step framework for tracking agronomic experiences and a seven-step framework for tracking grain marketing/risk management decisions.

Tracking these tests/decisions in a structured format can reduce the impact of the biases that often impact the learning of on-farm trials.

Focus on your farm's "small" data!