I am a huge math nerd. In addition to regular math classes to fulfill my bachelor’s degree requirements I also took contemporary math, trigonometry, and probability and statistics as electives. There has always been something soothing and straight forward with math. Math is one of those few times in life where things are absolute 100% black and white. That’s why articles titles that catch the reader’s eye is because it involves a polling number or economical statistic from the emerging cannabis industry.
Math is becoming a driving force in the marijuana industry. The days where you just needed to know how to add, multiple, and divide increments of 1/8th are gone. Virtually every solid plan in the cannabis industry these days needs to be saturated with math. How many products should a dispensary carry per square foot? What products sell more in your area, pre-rolls or vape pen cartridges? What is the month-by-month breakdown of industry numbers by state? What about by major metro area?
Those are just a handful of questions that I wonder about everyday, and I know that almost everyone in the industry that is serious about being a part of the next big industry is wondering the same types of things. For a long time cannabis industry entrepreneurs just did their best at operating their cannabis business. After all, it wasn’t like there was a handbook for such things less than a decade ago. Now entrepreneurs should be looking at the growing mountain of data that is out there to get a glimpse of where the industry is headed, and to likely shed some light on their own operations. It could mean the difference between floundering or following the math and making some adjustments and then thriving.
Three cannabis industry mathematicians will be at the upcoming National Cannabis Industry Association event in Oakland, the Cannabis Business Summit and Expo, which I’m going to try very hard to attend myself. On the ‘Optimizing Your Business with Data Tools’ panel will be Giadha Aguirre DeCarcer the Founder and Chief Executive Officer of New Frontier Data, Mary Smith CEO and Co-Founder of Greenito, and Roy Bingham CEO of BDS Analytics. I’m extremely interested to hear what they are working on currently as far as what is tracked and why, but even more importantly where do they see the future of data in the industry going?
Right now cannabis industries for adult use exist in Colorado, Oregon, Washington, and Alaska. Those are not the largest states in America. However, in the not-so-distant-future Nevada, Maine, Massachusetts, and most notably California will implement adult-use markets. Thinking on a larger scale, how does the pending national legalization in Canada affect things in the United States, which will likely still be operating on a state-by-state basis? You can hear ‘experts’ give their subjective opinions all day long, and some of them will be valid and some of them will be fluff, but math will always provide an objective insight. There’s no better place to get the scoop than directly from the leading experts in cannabis data at the Cannabis Business Summit and Expo June 12-14. Even if you aren’t as big of a math nerd as I am, you will still benefit greatly from hearing from this particular panel of true cannabis industry experts. To learn more, check out the event’s Cannabis Business Summit and Expo’s webpage, and follow the event on Facebook.