It cannot be denied that the marijuana industry is taking off. Because Colorado got a huge head start in the industry, many are turning to them to see how it is done; not just from a regulation and government standpoint, but from a business standpoint as well.
Because Denver is historically knows as a “tech hub” and is rapidly becoming a “smart city,” they are the perfect candidate for bringing in technology to the industry, to bring it up to speed with other industries.
This is a new industry, so there are some obstacles. No one knows how to run the businesses. The guys in the industry up to this point, have all been drug dealers, not businessmen. This has been a major challenge for the small business owners in the industry. But luckily, there are some that are trying to fix this.
One of the ways they are doing so is by introducing data analytics to the industry. The analysis provides valuable information on both the growing side and the business side. They provide growers with information about how to maximize growth, just like the data analytics that farmers use. On the business side, it provides management with information to better handle staffing needs, and put the right products on the shelf, to maximize sales.
To hear more specifics, be sure to listen to the Podcast.