Complex model of using weather and climate information in economic activities

The analysis of the value of hydrometeorological services involves the study of individual decision-making mechanisms based on weather and climate information. The subject of this study is the peculiarities of the use of hydrometeorological information in the implementation of weather-dependent economic activities. The purpose of the study is to develop a complex unified model reflecting the sequence of using hydrometeorological information in the activities of the firm. A theoretical model for choosing weather-related decisions is constructed. The stages of making weather-related decisions are proposed to be considered in relation to the time axis, in accordance with the Deming cycle. The choice of decision is determined by the most probable state of weather conditions at a given point in time. The result of a weather-related decision has income and cost components, depending on the degree of compliance of expected and actual weather conditions. The discrepancy between planned and actual results of weather-oriented decisions characterizes the acquired value of information. The proposed model can be used in the development of a system of accounting costs due to the impact of weather and climate on the activities of the firm, as well as for the purposes of managing weather and climate risks of the company.