Cannabis retail operations are a wealth of data insights that can optimize operations and increase profitability. Most business data is readily available via your tech infrastructure and POS system, but very few dispensaries use it to improve decision-making. Data analytics can make or break your dispensary’s future. If done correctly, it can help control financial costs, streamline inventory management, and facilitate compliance. Cova Software is an award-winning cannabis retail platform that powers over 1200 dispensaries across North America and helps them make crucial business decisions by empowering them with data insights extracted from the point-of-sale software system.
POS Data 101: Cannabis Retail Insights
Data analytics eliminate guesswork and empower you to make strategic decisions about dispensary staffing, cannabis product selection, inventory ordering, promotions, and customer experience. Whether it’s a high-level overview or a detailed analysis of your business, being able to have quick access to the cannabis data you require, in a customized format from the POS, allows you to make strategic decisions on the fly. Cova’s POS streamlines data analytics for dispensaries and presents it in the most simplified format so that cannabis retailers can use the insights to accelerate growth and profitability.
How Trinity Dispensary Uses Data From Cova POS
Trinity Cannabis in Illinois is one of Cova’s clients that switched from another POS that could not fulfill its needs and requirements. When Trinity’s team decided to open a second store and venture into the recreational cannabis space, they wanted an enterprise cannabis POS system that had the reporting capabilities to not just manage operations at multiple locations but also facilitate compliance with both adult-use and medical marijuana. With powerful data analytics from Cova POS, they have expanded operations quickly and successfully achieved their mission and profitability.
Some of the main things that data from COVA POS