The Climate Crisis is here and it has never been more imperative for businesses and governments to “weatherize” themselves against a rapidly changing climate that will only grow more volatile as ocean temperatures increase.
Weather impacts everything, especially business as even every day storms we consider routine can lead to major disruptions. In fact, weather affects the U.S. gross national product by $1 trillion each year. At least 22 different industry sectors are impacted by weather every day and according to the National Weather Service (NWS), weather generates $13 billion dollars of value to businesses each year in the U.S.
Bottom line, weather creates a lot of risk as well as a lot of opportunities. The companies that make weather work for them will more easily adapt to a climate that is increasingly erratic. Talk to any meteorologists and they will tell you that historical weather data is becoming less and less of a reliable factor in making future predictions. This is where commercial weather can lend a hand.
Commercial weather companies use publicly available data from the NWS, the National Oceanic and Atmospheric Administration (NOAA) and other government agencies around the globe to create value-added products tailored to customer’s specific business needs. It is often said “weather is free but the answer to your question is not” and the question on business leaders’ mind is “How can my organization minimize risk and profit from weather?”.
Custom weather solutions can be something as simple as hyper-local forecasts to help retail stores predict demand for specific products and stock accordingly to something as complex as a global forecast of crop yields like corn or coffee that can help investors and crop insurers minimize their risk and predict market prices.
Maritime cargo can use private weather to determine cargo rates (flood and water level modeling of rivers and lakes determine how much cargo can be loaded).
Construction companies can leverage hyper-local forecasts to reduce lost days, know when to pour foundations or even avoid accidents when using heavy machinery like cranes, which are impacted by high winds.
Energy companies use weather analytics to predict power demands in warm seasons and home heating demand in cold ones.
These examples may sound obvious but barely scratch the surface describing all the ways commercial weather solutions will impact business in the near future. Commercial weather is a $7 billion dollar a year industry and rapidly growing. Through the data collected by our Hurricane Hunter Satellites, Tropical Weather Analytics, Inc. is positioning itself to be an integral part of the future of weather forecasting for business.
