Customer Data Drives Higher Revenues in the Cannabis Sector

Customer Data Drives Higher Revenues in the Cannabis Sector

To succeed in the cannabis industry, you have to be ahead of your competition and all of the details of your seed-to-sale operation.

Companies paving the way in the industry use software that can track variables from lighting, watering, time to flower, cooling, heating, and more.

Growing indoors requires monitoring and tinkering with variables to create the ideal growing conditions that most closely mimic nature.

By integrating software that measures and reports on the numerous variables in the seed-to-sale process, companies can improve the facility’s outcomes and increase revenue.

The Benefits of Using Integrated Software to Improve Facility Outcomes

Understanding Revenue Amidst Variable Factors

In cannabis growth facilities, there are a variety of simultaneous variables at play: genetics, lights, watering units, length to vegetation, length to flower, cooling, heating, humidity, and more.

Having software that measures and produces data allows you to better understand the impact small changes have on the environment and your revenue. Additionally, historical data provides valuable insight into revenue spikes and dips. 

Different strains vary in the time it takes to complete all of these stages; one plant might take three weeks to root, while another one roots in 10 days. To maximize revenue, we must couple the genetics in precise ways. 

For example, we worked with a company that had 20% of their gardening space unused four days a week (that’s 16 days a month and 200 days a year).

By collecting data that tracked down the day when things were ready to move to the next stage, we optimized their assembly line, reduced their four-day turnaround time, and increased their revenue by 20%!

Compliance

To obtain more government support and create sustainable and predictable programs, a big factor in meeting compliance standards is how a business tracks inventory and cash.

Utilizing a system that integrates well with inventory systems can help support the business by identifying discrepancies in the digital inventory being entered and the physical inventory sold to other operators.

This data can also be used to track expected performance compared to actual confirmed outcomes, so that businesses can more accurately project product sales for the future.

HR and Productivity

There is an HR software that tracks progress, quantifies what your employees pushed out (such as pre-rolls), and compares outcomes to others that did the same type of work in the same amount of time.

By tracking employee productivity, you can allocate employees to complete tasks they are the best at – instantly increasing productivity at your facility and revenue over time. 

Out-of-the-Box vs. Custom Software Solutions

If your facility is ready to incorporate software to produce valuable data that can vastly improve growing conditions and increase revenue, there are two options: out-of-the-box and custom software solutions. 

Out-of-the-box solutions provide a user-friendly interface and are easy to implement. If you need a quick, simple solution, this is a great place to start.

The downside is you might not be able to get the exact data you are seeking once you start getting into an optimization stage and are seeking actionable items.

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With a customized solution, you are using a program to build a back-end platform that analyzes the data you are specifically seeking.

Custom solutions are great for companies that have outgrown out-of-the-box solutions and know what they are looking for in data output. The cons of customized solutions are they don’t have a user-friendly interface and can lead to a lot of rabbit chasing if you aren’t sure what data needs to be collected. 

Implementing Software At Your Facility

Once you decide to implement software at your facility, it’s essential to do your due diligence before purchasing a product.

Although the software is crucial and will positively impact your revenue, the initial cost of set-up and time invested in learning and training can be expensive.

Make sure you research available products, ideally conversing with others who have used them and be sure of the product’s legitimacy.

Changing your software down the line can be a nightmare and extremely expensive. The saying, “Measure twice, cut once,” really rings true here. 

The research phase is a great time to get your team on board. You need a comprehensive deployment strategy that prioritizes training, accountability, management, operations, and audits.

You have several players working different parts of the growth assembly line who are ideally pros in their area of expertise. Training must be designed specifically for each point of cultivation to understand how these points integrate to produce data across the board. 

The great news? You will see a massive payoff once you get everyone on board, trained, and comfortable with this data-driven approach. As your business grows (thanks to invaluable data!), hiring additional personnel becomes less of a headache as training is consistent.

The Bottom Line

We live in a tech-driven world, and for a good reason. When applied effectively, tech can optimize your growth environment, inform you of opportunities for enhancements, cover important aspects of compliance, and skyrocket your revenue. 


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