Hexagon Geospatial Supports State-of-the-Art Agriculture Forecasting Solution
ERDAS IMAGINE provides technology for WheaTrac™ in the United Kingdom02 March 2015
Hexagon Geospatial is pleased to announce that ERDAS IMAGINE has been selected as the underlying technology for WheaTrac™, a new independent research product targeted at the finance sector delivered by Geospatial Insight in the United Kingdom (UK).
WheaTrac™ is a new high-value product for the food manufacturing and financial services industry, enabling lower risk decision making and helping to secure lower futures prices when trading soft commodities.
Developed by Geospatial Insight, and supported by an Innovate UK grant, WheaTrac™ incorporates numerous wheat futures datasets in conjunction with wheat market news reports, weather reports and real-world satellite data. WheaTrac™ will enable users to trade with greater market transparency, enabling surety of raw material costs for food manufacture and the potential for higher trading returns.
“WheaTrac™ is a key component of Geospatial Insight’s growing portfolio of products and services targeted at the finance and trading community, and the capability provided by ERDAS IMAGINE has enabled us to rapidly analyse and integrate complex data sets to create an exciting new offer for our clients," stated Dave Fox, Geospatial Insight CEO.
The product will also help address future food security issues and enable commodity traders to meet the demands of new legislation.
“This agriculture solution powerfully integrates geospatial content with analytics, which ultimately drives better decision making,” said Mladen Stojic, President of Hexagon Geospatial.
Geospatial Insight uses expert analysis of imaging data to provide businesses operating in the finance and insurance sectors an “information edge” over their competitors, enabling better decision making in areas such as risk analysis, investment evaluation, asset monitoring, and event impact assessment, delivering those clients a distinctive competitive advantage.
“The combination of ERDAS IMAGINE and a plethora of new micro-sats provide an opportunity for us to better understand critical issues like food scarcity, water quality, and global warming,“ said Steve du Plessis, Remote Sensing Product Line Director of Hexagon Geospatial.
ERDAS IMAGINE is part of the Hexagon Geospatial’s Producer Suite, which empowers users to collect, process, analyze and understand raw geospatial data, converting it into usable information. By consolidating remote sensing, photogrammetry, LiDAR analysis, basic vector analysis, and radar processing into a single product, ERDAS IMAGINE provides meaningful insight into the changing landscape.
Hexagon is a global leader in sensor, software and autonomous solutions. We are putting data to work to boost efficiency, productivity, and quality across industrial, manufacturing, infrastructure, safety, and mobility applications.
Our technologies are shaping urban and production ecosystems to become increasingly connected and autonomous — ensuring a scalable, sustainable future.
Hexagon's Geospatial division creates solutions that visualize location intelligence, delivering a 5D smart digital reality with insight into what was, what is, what could be, what should be, and ultimately, what will be.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 20,000 employees in 50 countries and net sales of approximately 4.4bn USD. Learn more at hexagon.com and follow us @HexagonAB.
FOR FURTHER INFORMATION
Vice President, Global Marketing
Hexagon's Geospatial Division