American farmers used to determine when to plant and harvest their crops. Today, these decisions are driven by

data. Farmers access detailed data streams driven by global positioning systems, historical rainfall patterns, and

complex weather monitoring services. They combine this information with crop yield data and soil quality

measurements from prior years. Maximizing production efficiently can mean the difference between a farm that

remains profitable and one that may need to sell its land, and data helps eliminate guesswork.

Information helps us make decisions as simple as what to wear today to how many reporters the media should send

to cover an event. Each of these decisions is an economic decision. After all, resources are scarce. If the media send

ten reporters to cover an announcement, they are not available to cover other stories or complete other tasks.

Information provides the necessary knowledge to make the best possible decisions on how to utilize scarce
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