The Economics of Everyday Things
49. Weather Forecasts
May 20, 2024
Weather forecasts are crucial for industries like live events, airlines, and farming. Peter Neilley delves into the science and passion behind accurate predictions. The evolution of weather forecasting, limitations, and commercialization are explored, along with the challenges of climate change on forecasting accuracy.
13:46
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Quick takeaways
- Understanding weather physics and incorporating them into algorithms is crucial for accurate forecasting.
- Industries heavily rely on weather forecasts for crucial decisions, with the global market valued at over $2 billion.
Deep dives
Weather Forecasting Techniques and Evolution
Peter Nealey, the director of weather forecasting, mentions that understanding the physics of weather and incorporating them into algorithms is crucial for accurate forecasting. Meteorologists rely on observational tools and data networks to create forecasts. The advent of supercomputers has significantly improved forecast accuracy over time. The Weather Company, known for brands like the Weather Channel, has become one of the most trusted brands, serving millions monthly and recently acquired for over a billion dollars.
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