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Aline Meyer Oliveira, Ilja van Meerveld, Marc Vis and Jan Seibert published a paper entitled "Assessment of the Value of Remotely Sensed Surface Water Extent Data for the Calibration of a Lumped Hydrological Model" in Water Resources Research. In this paper, they evaluated if remote sensing data could be used to calibrate a hydrological model for Brazilian catchments. They found that the main limitation was the coarse spatial resolution of remote sensing imagery, and not its limited temporal resolution.
Figure: Adapted version of Figure 5 in the article.
Find the paper here.