What does satellite data bring to the overall data economy?
- Satellite data provides worldwide coverage, providing the ability for organisations to go back in time, detect and monitor changes on specific areas of interest.
- Data from satellites is extremely useful when conventional data sources are insufficient, not up to date or if data is not available.
Why integrate satellite data into your business workflow now?
- Satellite data is becoming easily accessible by non-expert communities thanks to the increase availability of satellite data for free, through open data policies such as the European flagship programme Copernicus, or at low cost, thanks to the deployment of large-scale constellation of small satellites.
- Strong advancements in data fusion and cloud computing enable merging various sources of data as well as storing and processing the data on the cloud using machine-learning algorithms, thus facilitating them to make strategic, data-driven business decisions.
Why is it not widely adopted yet?
There still exists a gap between the technology push from providers of satellite data based analytics, and the specific operational needs of organisations.
Supply side: Providers of satellite data analytics
- Lack of industry expertise and specific market needs (e.g. in energy, agriculture, insurance etc.) making it hard to tailor products & services
- Lack of access to the customers across industries along with diverse procurement habits
Demand side: Organisations with potential value from satellite data
- Lack of understanding of the value proposition of the insights tailored to the organisations along with a business demonstration
- Lack of knowledge and resources to efficiently absorb satellite-based capacity