Data analytics from Blue Skies Meteorological Services can determine and help you to optimize the financial relationships between the weather and your business activities and objectives.
According to the Department of Commerce, 1/3 of the U.S. gross domestic product (GDP) is sensitive to the impacts of weather and climate.
Obvious weather-sensitive industries come immediately to mind: construction, insurance, tourism and travel. However, a deeper consideration reveals that nearly every industry and business on Earth is at least somewhat affected by weather.
Energy producers and distributers must match production to weather-driven demand, landscapers see their business ebb and flow with the heat and rains, retail stores see surplus sweaters and jackets on their shelves when winter temperatures arrive late, shipments of goods cannot move up the Mississippi River during a drought but can cross the Arctic during ice-free summers, lawn mowers sell faster during a rainy spring, citizens in Atlanta start buying sharply more ice cream when the temperature hits 90 degrees… The list goes on.
Meteorological data analytics is the science of correlating the sales, revenue, and expenses of your business with weather and climate variables to optimize logistics.
An analysis can reveal:
- weather-related risks and benefits of a proposed new location (e.g. is the lower average transportation cost to and from the facility worth the added risk of flooding?
- thresholds for sales (e.g. does the temperature outside or the date on the calendar more strongly determine sales of sunscreen?)
- the profitability of locating a store or production facility in a given location (what density of outdoor recreation-themed shops can a climate like Indianapolis’s support?)
- the costs and benefits of shipping goods via a particular route (is it more efficient to ship through a shorter, but often snow-impacted northern route or a longer, snow-free southern route?)
- and many other connections between your business and weather/climate.
Data analytics in conjunction with a climate and extreme weather analysis can be used to determine your business’s weather and climate risk.
If you have any questions about our services or about how meteorological data analytics might serve your business or other interests, please contact us via email or phone. Initial consultations for all of our services are complimentary.