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Tuesday May 9th at 10am MDT - Ask Me Anything with Henry from Cannabis Big Data

Join Henry Finklestein, the brains behind Cannabis Big Data, for an essential overview of how to put the data you’re already collecting to work for you.

@Henry and his team have managed enterprise data architectures in industries as diverse as e-commerce, consumer goods, health care, finance and construction. They’ve worked with start-ups and Fortune 100 companies, so they know what it takes to get from $1 to $1B in revenue. Click here for more on Cannabis Big Data.

Unless you’re sure you’re using all of your business information to its fullest, you won’t want to miss this Ask Me Anything event.

Register now.

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Going to try and make this one!!

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Just signed up. I noticed this is from 10am-11am on May 9th, but it doesn’t mention what time zone.

Also, can we ask questions in this thread, or do we have to ask through the ‘Register Now’ link?

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You can ask advance questions here if you like. The time zone is Mountain time, and I’ll get that added to the landing page.

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It’s good to see some business analytics getting in the space.

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Can’t wait!

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Howdy folks!! Great to be here this morning and looking forward to any questions you may have.

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Welcome @henry and thanks for doing the AMA. I’ll kick us off with a question - what’s the most common question that your clients want to answer about their business?

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That really depends on the business - dispensaries need different actionable insights than laboratories than investors.

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Let’s go with dispensary questions then - what are they looking to answer most commonly?

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That said, regardless of your business type, everyone is always worried about gross and net margins, so we spend a lot of time looking at revenue and cost structures.

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Sure, to build on my last comment, product unit costing is something that most dispensary store managers or owners don’t know.

And I don’t mean “a gram costs me $XX on average”, I mean that specific gram, on that shelf, from that batch and I’m going to buy right now. How much did that gram cost you? Vs. the one in the next jar over? Vs. other product SKUs? That’s Retail 101 for most businesses, but cannabis businesses are only just starting to perk up to why that’s so important

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Hi Henry!

During your number crunching, have you come across any unexpected correlations?

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Are you able to do a cost analysis of each strain to determine product value/return rate?

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@henry given the trends that you can track across all of your client’s data, what is the most interested correlation that you have found?

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Hey Hunter,

Sure, almost every single time! That’s why I love playing in the data :wink:

One thing that we saw at one medical dispensary was a “liquor store” trend where there were bi-weekly seasonal spikes on Fri & Sat - paydays. This is a well-documented trend in the liquor market and I was somewhat surprised to see it in a medical store (makes sense for rec, but I guess med too …)

Just one of many …

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Thanks for doing this AMA! I have a lot of questions, but I’ll just start off by asking when, how, and why you decided to found CBD? What made you want to get into the cannabis space?

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Obviously from soil to shelf, there are countless variables to consider…how do you prioritize those? Independent with each client, etc?

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Hey UVSafeWear,

Absolutely, as long as the growers are maintaining strain-level grow notes. If someone is using one of the softwares we chatted about in another thread, no problemo as we can export those records and drill into costing by collating grow batches against accounting purchase orders.

For those who are not yet capturing information at that level of detail, we work with them to set up web forms to digitize their records, thereby enabling that type of analysis moving forward.

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I’m fascinated by the plummeting wholesale costs of flower. A couple years ago, a wholesale pound would easily go for $2-3k, nowadays it’s getting closer to $1300 in Colorado, and that’s nowhere near the bottom. Hops, the closest agricultural relative of cannabis, grown at scale yields a wholesale price of $20 / lb.

That’s a very stark trend to watch over the next 5-10 years, and it has drastic implications for cultivators, processors, dispensaries and brands across the value chain.

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