Data Science in the Cannabis Industry

The stigma against marijuana has been prevalent in mainstream society for the last century and is finally beginning to dissipate as countries all over the world begin to relax laws. Here in the US , there has been a strong shift in public opinion over the last several years and federal legalization is on the horizon. Cannabis has quickly become one of the hottest emerging markets in recent memory. At the moment, this industry can roughly be divided into two segments. Those who produce and sell, and those involved in marijuana technology.

Data Collection is the Law

Data collection in the cannabis industry is not only vital to making business decisions, its often mandated in states where marijuana is medically or recreationally legal. It’s a similar approach to the level of scrutiny and government oversight that is placed on pharmaceutical companies, the most common way this is accomplished is through the use of seed-to-sale software.

Infographic Credit — BioTrackTHC

Other Uses of Big Data in the Cannabis industry

We may only be a few years into legalization in a hand full of states but many companies are already using data science techniques to shape the cannabis industry. Startups are using data science to do everything from create products that help boost customer confidence, to stream lining and simplifying supply chains.

Going Forward…

We’re moving into uncharted territory as we approach the end of federal prohibition. And although there are still many unknowns about exactly how legalization will play out anyone interested in data science should be excited as the amount of data available is about to increase exponentially. It will be the job of data scientists to help industry leaders and law makers make decisions going forward in a business that will continue to evolve but that is inevitably here to stay.