BDS Analytics is a data analytics company for the cannabis industry. Founder and CEO Roy Bingham created the company for sellers, buyers, and growers alike to be able to use data to make informed decisions about the products they work with.
GreenEdge™ is the platform used to collect information from clients. The data gets sent from client’s point of sale systems and then the program goes through it all to give informed advice on what clients should be selling.
“We’ve tried really hard to come up with a way to visualize data so that you can take 10 to 15 minutes a week and make important decisions about which products to carry,” Bingham said at Portland’s Indo Expo in August. The data is anonymized and then sent to clients to compare the products they sell to other stores in the state.
For example, you could see that in other Colorado areas cannabis edibles are selling very well and thus your business would do well to sell them too. GreenEdge™ helps clients determine what products would sell the best in their stores based on the data they collect.
It can also show growers what they could be selling more of based on what sells well in stores. According to their website, retailers can increase their sales by up to 20% from purchasing off of fact-based analytical data about what actually sells.
“Our mission is to drive the cannabis sector to thrive with well-informed decisions based on facts,” Bingham said. He wants his clients to thrive in their locations and believes BDS Analytics has the platform to push them forward. He wants the data given to clients to be organized in an easily understandable way. The data should give sound insight to clients, not confuse them.
The company was accelerated through Canopy Boulder and has since grown to serve Colorado, Washington, and Oregon. They look to spread into more territory in the near future but are growing every day.
“We have a lot of data, and more than 20 million transactions in our database and were growing very rapidly right now,” Bingham said. Visit www.bdsanalytics.com to become a member.
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