Legal marijuana needs big data to grow
When it comes to growing a plant-based industry, big data and technology may be more valuable than fertilizer.
As the legal marijuana industry continues to expand, so has the need for data services to increase efficiency and consumer education. But companies like SAP and NetSuite that typically provide data collection and organization to more traditional industries aren’t extending their business to the legal cannabis industry, creating an opening for new companies catering just to the marijuana market to fill the space.
With the legal cannabis market expected to reach $6.7 billion in medical and recreational sales in 2016, industry experts expect data to play a primary role in accelerating this growth. These data services track everything from plant cultivation to consumer purchasing trends, helping marijuana retailers comply with state regulations and optimize their inventory to meet demand.
One of those services, Flowhub, was founded in late 2014 as...
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