WASHINGTON: The Marijuana Business Association (MJBA) and Analytically Correct are pleased to announce the release of the first MJ Research Report and business intelligence dashboard on the eve of the cannabis industry event: The Dollars and Sense of Risk & Financial Management.
We are providing the MJ Research Report as an industry resource for business intelligence. The report will cover analysis of key issues, events, trends and will provide critical insights for businesses in this new marketplace. What is business intelligence? Business intelligence is a set of strategic tools and processes used to analyze data and convert it into insights decision makers need to make informed decisions.
The most impactful business intelligence combine a specific business’s data with market data to provide a clear understanding of the business’s relationship to the market. This is why CIO’s rank business intelligence and analytics as their company’s top technology priority. Once only available in research and science fields that required highly accurate analysis, the rapidly increasing amount of data available for analysis and the increased processing power of personal computers is now making tools for business intelligence accessible to all organizations.
In support of Washington’s recreational cannabis industry we are providing the business intelligence dashboard with key market information. Here are a few highlights from the business intelligence dashboard of the industry’s performance this year:
- Washington State has now surpassed $40M in recreational cannabis business transactions. That will bring in the state over $10M in tax revenues.
- 64 retail stores have recorded sales and 80 retail stores have approved licenses
- Chelan County leads the state in producer sales with over $231K in sales thus far and Clark County has the most retail sales with over $3.3M in sales.
- 10%, 11% and 4% of the producer, processor, and retailer license applications have been approved.
If you are interested in learning more about business intelligence and its use in the industry please attend the Business Intelligence panel at The Dollars and Sense of Risk & Financial Management event on November 22nd from 3:45 pm to 4:20 pm. If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at firstname.lastname@example.org.
* * *Joe Armes is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.