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In Cannabis Business, Big Data Now Equals Big Dollars Later

Submitted by Marijuana News on Mon, 07/06/2015 - 08:45

It doesn’t matter what arena you look at these days, everyone is talking about big data.

For most businesses outside of the cannabis sector, big data is no big secret. With the internet of things, the widespread adoption of wearables, data is pouring in from millions of devices around the world and informing business with the revelations that are drawn from it.

TLDR: Data is important to your cannabis business. Track everything you can, starting now. Actually, you should have started yesterday. Learn from it. Leverage what you know to make decisions for your business.

Looking forward, data like this is juicy inspiration for finding what might be upcoming trends, or to identify areas of opportunity. Surprise insights can be revealed by the statistics that appear when the data is reviewed.

Given the newness of the legal cannabis industry, it is imperative that data be collected, immediately, whether or...

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