One of the signs that an industry is becoming more legitimate is when its major players start investing in analytics. With a recent boom in the number of data analytics firms entering the cannabis space, it’s time to reevaluate the landscape for recreational marijuana as a business.
The marijuana industry is expanding at a rapid pace. Analysts estimate the industry could reach $75 billion in global sales by 2030. With so much on the line and marijuana companies facing enormous pressure to innovate, investors are pushing for the increased use of data analytics to make more strategic business decisions.
Here are seven cannabis data analytics firms working to change the face of the industry right now.
Growers and dispensaries in certain states are required to submit reports that include information about their customers and sales to governing bodies. How easy, or difficult, these reports are to generate depends on the CRM platform that the business is using, and those platforms designed for marijuana businesses specifically tend to make the process as efficient as possible.
Here are five examples of CRM platforms designed for businesses in the cannabis industry, along with details about what makes each of these platforms unique.
Another 4/20 is upon us and as cannabis patrons prepare to celebrate, the marketing world is still trying to figure out how best to reach legal consumers of marijuana. Foursquare released data earlier this week that illustrates a few trends among legal cannabis consumers.
So-called “Uber for pot” startups are in high demand, not just among consumers but investors, as well. Marijuana-focused private equity firms and VC firms are diving in headfirst, paving the way for growth in the industry. Here are seven examples of on-demand cannabis vendors serving the market right now.
A GasBuddy for pot? Why not? That seems to be the conclusion of one Seattle-based entrepreneur, whose location-based pricing-and-reviews service wants a slice of what he estimates will be an $8 billion industry in 2017.