Two data analytics companies are partnering to deliver broader cannabis industry market research.
BDSA, market research and analytics firm in the cannabis industry, and Management Science Associates Inc. (MSA), a provider of analytics and data-driven solutions for companies including convenience stores, are forming a strategic alliance.
BDSA and MSA will collaborate on various fronts, including offering industry cross-analysis between BDSA’s clients focused on the cannabis industry and MSA’s clients in the consumer packaged goods, health care and government sectors, the companies said.
“Our collaboration with MSA will revolutionize our clients' understanding of how cannabis addresses diverse consumer needs,” said Roy Bingham, co-founder and CEO of BDSA. “With half the population having consumed cannabis in the past six months, this is no longer a niche category only of interest to those within the industry. This partnership will provide actionable, revenue-driving audience, sales impact and forecasting opportunities to companies inside and outside the cannabis industry.”
Manufacturers contemplating entering the cannabis industry often have limited visibility into cannabis dispensary sales, BDSA said. The integration of BDSA’s data with MSA’s reporting and analytical capabilities empowers manufactures to target the right products to the right consumer audience, according to BDSA.
Another key advantage of the collaboration is MSA’s unique, patented and HIPPA-compliant methodology for de-identifying protected health information, BDSA said. Combined with BDSA’s comprehensive data, this methodology enables statistical analysis of consumers and delivers insights into the intersection of purchasing cannabis and pharmaceuticals for health needs.
“We are excited to partner with BDSA to expand our data portfolio to include critical sales insights from cannabis dispensaries,” said Stephen Gongaware, executive vice president of business development at MSA. “This collaboration will benefit companies both inside and outside the cannabis industry, helping them navigate this rapidly evolving landscape. Our joint analysis across datasets will help size new audiences and revenue opportunities and our ongoing study will shed light on the impact of cannabis purchasing on pharma, tobacco and alcohol audiences, usage and purchasing.”
BDSA, Louisville, Colorado, provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, wholesale data, consumer research and market forecasts.
MSA, Tarentum, Pennsylvania, has partnered with institutional and commercial customers since 1963 to identify areas in which innovative analytics and uses of data can deliver incremental growth and drive efficiency. It combines its expertise with the tools of information management, analytics, data management, software and systems technologies to develop, integrate, implement and maintain products and services in various functional and vertical domains.
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