Precision agriculture or smart agriculture means that the plant kingdom gets precisely the treatment they need, determined with great accuracy by utilizing the innovative technology. In order to achieve this, sensors are required to record observational data in real time from the crops and/or the soil and/or the surrounding environmental conditions. Based on the sensor values, specific software with rules-based cloud BI systems and algorithmic models, automatic systems estimates the condition of the plant or soil and any deficiencies or needs and determine whether location-specific treatment or practical decision is necessary. Technology can assist in strategic decision-making at farm level as well as with operational actions at plant level. This allows production to be optimized and to reduce costs, as well as to increase the ROI. The big difference in between traditional agriculture is that rather than determining the necessary action for each individual field, precision agriculture allows actions to be determined even per plant, group of plants, square meter or any other predefined territory by taking in consideration the tremendous amount of data, and by performing the predictive analyses and historical data analytics.