Data Archives - Green Market Report

Anne-Marie FischerAnne-Marie FischerJune 20, 2019
shutterstock_243798976.jpg

6min7090

Data is everything in cannabis right now. With this “data race” going strong, the cannabis industry is benefitting from useful data as firms compete to release the most interesting data on the profit-driving consumer behaviors of cannabis users.

Now, we have new insights on the why around cannabis use and overall cannabis attitudes, thanks to a new cannabis-related data set that the analysts call a “giant sandbox of data to play in.”

Consumer Research Around Cannabis has partnered with Radium Research LLC to provide the cannabis industry with insights they have never seen before through the use of predictive analysis, an approach to data that allows analysts to make predictions about future behaviors, attitudes, and consumer patterns.

Whereas the cannabis industry thus far has relied on attitude surveys, Point of Sale data and state reports to understand the who, what, where, when, and how of cannabis consumption, these new research partners are offering the why… and you may be surprised by what they found.

Using data from over 110,000 local market surveys that spanned the Greater Toronto Area and 85 U.S. markets, the analysts mined the 15 key factors that drive people to say that they support legal cannabis. Key indicators included voting behavior, whether they drink alcohol, whether they use tobacco and even looked at whether they attend religious services on a regular basis.

In their analysis of the data, what stuck out most is that the choice to support the legalization of cannabis is an issue of morality, and largely coincides with a person’s likelihood to attend regular religious services. For instance, in the case of Illinois, the analysts found that those who attended regular religious services were 83% opposed to cannabis legalization, while those who did not attend religious services were 89% in favor.

Jeffrey Stein, VP of Consumer Research Around Cannabis explained to Green Market Report that asking several hundred behavioral questions on medical and recreational cannabis use can offer predictive analysts a window to understanding the “key ingredients” that lead someone to support legal cannabis.

Dr. Paul Crowe, President of Radium Research, who created his company to apply his experience in predictive analysis in product innovation and segmentation, reminded us that a lot of the data going around in the cannabis space right now is like looking through a “rear view mirror”, whereas the approach of predictive analytics allows us to look ahead, and innovate.

“Innovation is the lifeblood of any company,” says Stein, “If you don’t innovate you’ll sink because someone will always innovate better than you. Once the “big guys” of the cannabis industry jump in [to the data game] you’ll need to know the future.”

This partnership between Consumer Research Around Cannabis and Radium Research offers the cannabis industry, policymakers and companies from other industries an opportunity to truly get into the heads of potential, current, and future consumers in order to predict what makes them tick.

An example of how this data can be used by cannabis companies is comparing purchasing data, for instance, individuals who use a vaporizer to consume cannabis, and their attitudes towards cannabis, and the reasons they use it. Companies in their marketing approaches can now understand certain drivers for consumers and market their products based on these indicated attitudes.

This team has partnered with NORML of Illinois & Chicago to offer their data, and the approach of predictive analysis, as a tool to help this group “know exactly where they need to go to change attitudes.”

 


StrainprintStrainprintJuly 24, 2018
Strainprint2-1280x853.jpg

7min12240

(Editors Note: This content has been contributed by Strainprint)

Strainprint is leading the way in the cannabis industry with its rich and robust medical patient data and sophisticated Business Intelligence solutions. With a vision to advance the scientific understanding of cannabis and its legitimization as a therapy and to have the largest longitudinal study of cannabis use in the world, Strainprint is using Patient Generated Health-Data (PGHD) to help health professionals, producers, researchers and educators understand and make informed decisions about patient treatment.

How it all began

Starting as an idea back in 2014, one of the founders, Stephanie Karasick, first came up with the concept after becoming a cannabis patient and learning first hand the complexity of navigating cannabis as a treatment option. Shocked at how different each strain she tried made her feel, she kept a detailed written diary.  Although she was very diligent and deliberate in her tracking, she couldn’t help but wonder if there was a better way for patients to track their use of cannabis. She searched for online tools, but found very little to help inform her as a patient about dosing and strain efficacy.  That was the genesis of the Strainprint App.

Why Is Strainprint Important?

For patients, the outcome-tracking Strainprint App is invaluable. It is designed to help them easily journal their cannabis medication sessions and over time learn which strains work best for the symptoms they are treating. They can also explore which strains are working for others that are treating similar symptoms/conditions and learn more about the ingredients and efficacy of those strains.  

Why do patients love Strainprint the app? Aside from the fact that it’s free and they have access to an amazing loyalty rewards program*, they can also securely share their treatment history with their physicians, which in turn helps their physicians to better guide them.  Overall, Strainprint helps them to gain a full understanding of how to treat their symptoms/conditions and basically to “use cannabis better!”  

Since March 2017, tens of thousands of cannabis patients have tracked almost 700,000 personal health sessions on the app, generating almost 10 million cannabis data points.  It is the largest and most granular longitudinal, observational data set on cannabis in the world and it’s growing at 20% per month.  These are not qualitative “reviews” like you find on Leafly, Weedmaps or Lift, but rather research-focused (doctor-designed) medical outcomes.

While Strainprint gives the app away to patients for free, it offers a web-based Analytics platform for businesses to visually understand and mine anonymous data in real-time.  Producers (growers) use Strainprint Analytics for business intelligence and product optimization (ie. understanding what’s working for what and what they should be growing). Clinics, doctors, and large Pharmacy chains use it for patient treatment guidance and research. Biotech’s use it for product formulations and governments use it to help drive public policy.  

Supporting Clinical Research

As the database continues to grow, so has the interest in using Strainprint data for defining clinical research and medical cannabis studies.  The good news is that the platform is research ready.  The mobile app can be custom-branded (white-labeled), as well as configured with validated questionnaires and custom surveys.  The results can be accessed in real-time in Strainprint Analytics and can easily be compared with a full global data set.  The platform is ethics-ready and privacy compliant for North America and soon Europe.  

Recently, researchers from Washington State University published a study on cannabis use for treating anxiety, depression and stress, based entirely on archival Strainprint data.  The results, found in the Journal of Affective Disorders, revealed some key medical findings, including that “medical cannabis users, report a substantial and significant reduction in symptoms of negative affect shortly after using cannabis.”

“We are excited to see the many ways that Strainprint data is helping patients, clinicians, and researchers to understand cannabis in a scientific way. Our platform all cannabis patients to inform their doctors and the research community presents a unique opportunity to advance research and advocacy for medical cannabis” said Strainprint CEO, Andrew Muroff.

What’s Next?

Strainprint recently closed a Cdn.$3.9 million Series A capital raise and is focused on continued product development and talent acquisition to execute strategic initiatives in the coming year. With two major product releases since March 2017, the Strainprint team is preparing for entry into international legal markets outside of North America and is evolving its product line to support the legalization of adult-use cannabis in Canada.

“Most traditional medical specializations have a strong clinical and evidence-based library of resources available to them, but research on cannabis has been limited due to its prohibition for almost 80 years,” says Muroff.  “We now have the opportunity to bridge the gap between the community of users and those who care for them, while also supporting those who make decisions around public policy and the legal status of cannabis understand it better.”

Strainprint’s self-proclaimed “datanerds” are changing how the industry views cannabis, one cannabis session at a time.

 



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 4 hours

Executive Spotlight: Liesl Bernard, CEO of

@GreenMarketRpt – 5 hours

RT : Our Founder & CEO was featured in the Executive Spotlight! Check out the full article here;

@GreenMarketRpt – 7 hours

Our biggest fans this week: WallandBroad, cosmo_crator. Thank you! via

Back to Top

You have Successfully Subscribed!