Written by Guest Blogger: Megan Foreman
Accurately predicting the weather can be lucrative. Weather, particularly severe weather, is the largest cause of price volatility, volume fluctuations and revenue loss in many industries worldwide.
Meteorological information saves millions of dollars for industries ranging from agriculture and mining to retail. According to the Canadian Meteorological and Oceanographic Society, every one-percent improvement in the accuracy of weather forecasts can lead to $1.02 billion in benefits over a 30-year period.
Credible Meteorological Data
Seek forecasts prepared by qualified professionals. Look for experts with credentials like the Professional Meteorologist (P. Met) certification, a designation that formally recognizes the unique skills and knowledge of meteorologists working in forecasting, consulting and research, among other areas.
“The increased impact of severe-weather and natural disasters has drawn public interest around the work of meteorologists. It is imperative to have a mechanism, like P.Met certification, that gives professional credibility to meteorologists,” says Grant Trump, CEO of ECO Canada.
Strength in Canada's Weather and Warning Systems
Seeing the value of improved forecasts, the Harper Government is committed to upgrading Canada’s weather monitoring infrastructure. On January 20, 2012, Peter Kent, Minister of Environment, announced that $78.7 million will be spent over the next five years on the Canadian Weather Radar Network ($45.2M), the Canadian Weather and Climate Observing Networks ($18.8M), the Canadian Aerological Network ($4.2M) and the Canadian Lightning Detection Network ($10.5M).
“The investment in Environment Canada’s weather monitoring infrastructure will result in improved weather forecasts and warnings,” said Peter Kent. The funds will ensure Environment Canada’s weather service keep pace with new science and technologies.
Qualified Professionals and Modernized Technology: Better Forecasts for Decision Making
In a country as diverse and dynamic as Canada, the weather changes as often as the markets: In one year alone, Environment Canada’s Meteorological Service issues an average of 1.5 million public forecasts, 15 000 severe weather warnings, 500 000 aviation forecasts, and 200 000 marine, ice and sea-state forecasts.
Staying on-top of Canada’s world-class weather, water and climate monitoring data – prepared by P.Mets – could be your secret to making strategic business decisions.