Pistil Data, a nationwide cannabis market intelligence platform, announced today two new products: Pistil for Retail and Pistil for Brands. Both software packages are intended to take the guesswork out of a sector struggling with the complexity of cannabis-industry data. Pistil collects data in real time and updates its analytics on a daily basis.
Pistil, founded by executives from Google and Denver-based cannabis-business software developer, Baker Technologies, crunches billions of data points daily. The company has developed a catalog of more than 3 million cannabis products which are used to match products across stores. Pistil analyzes products in more than 90% of stores in North America.
Pistil for Retail is now in general release after a six-week beta program with five U.S. retailers. According to the company, Pistil for Retail helps sellers make informed decisions drawn from its vast database in selecting brands, products and prices. The software provides actionable data on price optimization and trending products.
The Pistil for Brands is a business intelligence tool that helps distributors and brands uncover market. By providing visibility into what retailers are purchasing, pricing and insight into competitive brands, companies can improve their go-to-market strategies
Employed by Industry leaders
Backed by leading cannabis venture firm Casa Verde Capital, Pistil Data has built a customer base of over 1,000 North American industry leaders with clients such as Connected, Raw Garden, Jeeter and Vapen. Pistil Data now operates in every legal-cannabis state with plans to expand to Canada by the end of the year.
“There is a shakeout happening in cannabis right now, and there is no longer any room for error. Brands need to use their resources efficiently, position themselves strategically, and make sure they are in the stores that can make them money. For retailers, it means taking a hard look at their shelves and their pricing, to find a way to stand out to new and existing customers in their local markets”, says Jeffrey Graham, CEO of Pistil Data.
For more information visit: www.pistildata.com.