Economic Benefits of Emerging Observational and Forecasting Systems

Innovative and highly capable weather observing technologies, forecasts and decision support services have been rapidly emerging in recent years due to increasingly compact electronic components, the evolution of cloud computing and continued expansion of wired and wireless communications bandwidth and services. Additionally, alternative business models for how these technologies are deployed and utilized have enabled their broader adoption both domestically and internationally. While these advances have created significant improvements in the level of support provided to the emergency management community for the enhanced protection of life and property, given the sensitivity of economic drivers to weather there have also been numerous monetary benefits generated for nearly all market segments. With the prospects for extreme weather being exacerbated in the future, the need for continued improvements in observing, forecasting and communicating will become even greater. This presentation will explore various facts, figures, activities and efforts in this regard.