Cannabis

Don’t let your operation go up in smoke! Data and AI can be a differentiating factor for your business.

Challenges

As the cannabis industry continues to grow and evolve, there are many challenges with operating in this environment. Growers need to be able to adapt quickly to changing regulatory demands, and those who are the most flexible will reap the greatest rewards. Distributors need a clear understanding of current market trends and legal requirements to avoid potential penalties and capitalize on new opportunities. Retailers are at the forefront of these changes, experiencing firsthand the changes in market preferences and public perception.

Operating in such a fluid and unclear market requires specialized software to enable business operations. Integrating modern technologies that leverage analytics and AI can have many benefits, including:

  • Product Differentiation – Blockchain can provide visibility into the production process and validate product claims (product potency, locally sourced, organic)
  • Operations Optimization – Automated monitoring of operations through a combination of AI and custom-built tools
  • Analytical Strategy – Leverage proprietary data collected from operations to understand what works best for your business

 

Use Cases

Common applications of software, data, and AI in the cannabis industry

Regional Market Analysis

Dive deep into trends that directly impact your operations. Whether you’re curious about how certain products are performing, or want to understand how your market share compares to others – a solid data strategy can produce a much clearer picture of current market conditions.

Customer Insights

Understand who your customers are (demographics, preferences, and price sensitivity) and what they are buying. Conduct research on target markets and leverage the power of A.I. to predict how new and/or different products will perform.

Pricing Strategies

 Determine optimal price points by aggregating data from internal and external sources. Set prices based on a combination of regional and national trends to achieve greater profitability and capitalize on market inefficiencies.

Supply Chain Management

Build trust with consumers and provide more visibility into your supply chain by incorporating blockchain into your supply chain. Track the entire production process and go to market with a deep knowledge of how your product was made, what inputs were used to produce the product, and monitor how the finished product moves through the supply chain.

Production Planning

Leverage historical data to predict customer demand and optimize production schedules to ensure the right amount of product is being produced at the right time.

Quality Control

Integrate IoT sensors into your production process to help monitor production. Computer vision can be used as a tool to increase yields, identify issues with specific plants, and mitigate common problems.

Strategic Approach & Implementation

We don’t follow a standard framework when partnering with cannabis companies. Databender builds custom solutions specific to your business – to enable the full benefits of automation and AI.

The biggest challenge when implementing technical solutions is a lack of understanding about the business. To build truly impactful solutions, a majority of time should be spent understanding the problem.

Creating standardized software is easy. Developing impactful solutions requires a much more rigorous approach. 

Reach out today to learn more about how custom-built software and AI solutions can reduce costs, optimize operations, and provide a strategic advantage for your business!

Interested in working with us?

Please reach out to learn what custom-built software, data, and AI tools can do for your business.