If your cannabis or cannabis-related business isn’t keeping up with industry data trends, then you’ll fall behind. Today, data-driven businesses have the most success because they have access to the information they need to identify opportunities and avoid taking unnecessary risks. 

With that said, the data you use to track industry trends and evaluate your strategic direction has to be timely and reliable. Fortunately, there are a number of ways you can get access to the data you need to effectively track and analyze trends. Let’s take a look at some of the options available to you.

Tracking Cannabis Industry Changes and Analyzing Data

Which cannabis markets are growing? Which markets are declining? Are any companies gaining significant market share? Where should your sales team focus its efforts? These are just some of the questions you can answer proactively when you track cannabis industry changes and analyze the data to spot trends and opportunities.

You can track all of this data and much more using the Cannabiz Media License Database and Cannabiz Intelligence™. Both solutions provide multiple ways to access and analyze cannabis industry data and even set up notifications and alerts when changes occur that are important to you. 

For example, you can create lists of cannabis and hemp license holders in the Cannabiz Media License Database based on specific criteria that matters to you, such as state, type of license, company, and more. Using your lists, you can track growth and identify new opportunities. You can get these updates via email automatically by setting up alerts, so you’re notified when data changes. 

Want to know when new retail licenses are added in a specific state, city, or county? Set up an alert, and you won’t miss anything. Want to track growth trends between two different markets? Set up a list for each market and track license changes, companies, and more.

Cannabiz Media License Database and Cannabiz Intelligence subscribers also receive a daily license change notification email filled with information about new and updated cannabis licenses across the value chain. It provides early access to changing license information, so subscribers can seize opportunities before their competitors. Want to be the first company to offer your products and services to a new license holder? You can do it with the subscriber-only daily license change notification emails.

Cannabiz Intelligence subscribers can follow specific companies and receive email notifications and alerts to track those companies closely as shown in the image below. It’s an excellent way to be automatically notified when there are changes related to a company you’re analyzing for investment, finance, merger and acquisition, and other opportunities.

Following Cannabis Industry News

Analyzing cannabis license and company data is just part of the process to use data for trend analysis. Cannabis industry news also provides valuable information, particularly since the industry is constantly changing. 

Cannabiz Media offers a variety of real-time news tools, and some can be accessed without a subscription to the Cannabiz Media License Database or Cannabiz Intelligence. For instance, anyone can sign up to receive the Cannabiz Media newsletter, which includes curated news and information from across the internet that is valuable to people working in or with the cannabis industry as well as to people who are just interested in the industry. 

Cannabiz Intelligence subscribers automatically receive cannabis industry news updates directly to their email inboxes too. In addition, both Cannabiz Media License Database and Cannabiz Intelligence subscribers can access comprehensive industry news through the built-in news feature.

Subscribers can filter news stories by time period, country, state, type of license, license status, and much more. The news feature aggregates news from a variety of sources and provides multiple types of filterable information, including: news, insights, violations, breaking news, recalls, and alerts. You can set up notifications to receive alerts when news that is important to you is published. 

For example, a security company could track violations to find companies that have been fined for security issues. With this information, the company could reach out and offer to help solve the problem with its products and services. The opportunities are practically endless.

Key Takeaways about How to Stay Current on Cannabis Industry Data Trends

With data and news information at your fingertips, you can stay on top of trends, thwart risks, and seize opportunities before your competitors. It’s an important part of any company’s strategic growth strategy.

You can get the cannabis industry data and information you need by subscribing to the Cannabiz Media License Database for sales and marketing and Cannabiz Intelligence for financial analysis and reporting. Schedule a demo to see how you can use it to beat your competitors.