Forecasts increase productivity and mitigate extreme weather impacts

by Lauren Patterson | Nov 27, 2018 | Accurate Design and Integrated Operations, Avoided Costs, Data Stories, Government, Improved Decision-Making, Increased Productivity, Industry, Return on Investment, Water quantity

The National Weather Service is the primary source of public weather data and forecasts used to inform decision-making and mitigate losses from extreme weather. A willingness-to-pay survey and an impact analysis suggest the potential benefit-to-cost ratio is between $3 (includes forecasts from all federal and private agencies) and $15 (assumes most of the underlying data and forecasts come from the National Weather Service) of value for every $1 spent.