How to Choose and Use the Ideal Dataset
New Frontier Data was founded to fill the void created by a lack of vetted professional data sources for the nascent cannabis industry. Eight years later, cannabis data is everywhere. Stats and figures are routinely cited in industry news. Yet, just as so many other industries have experienced, cannabis stakeholders are asking, “So what now?” Data is critical, but determining what data to use, why it matters, and how to use it can be confusing. Cannabis stakeholders need to make accurate forecasts and informed decisions, but different groups need different data to do so. Consider five prominent groups and the insights each needs to best evaluate opportunities, invest resources, and succeed: product brands and advertisers, retailers, investors , researchers, and policymakers. Let’s break down what data each group needs and why they need it. Product Brands and Advertisers Need: Market data and prioritization, consumer data (product preferences, retail engagement), and competitor ...