Analytics and AI Solutions for the Cannabis Industry
Industry Sector
Cannabis Retail
The Challenge
Without analytics and AI solutions for the Cannabis industry, the client struggled with manual reporting and data management, resulting in a lack of historical business insights and limited capabilities in forecasting and advanced analytics. Key backend processes lacked automation. The business was run largely from spreadsheets.
Palomar's Solution
The Palomar team executed a full digital transformation by migrating all retail sales, customer, campaign, inventory, and related data to a secure cloud data platform (Google Cloud). We then designed, built, and operated an integrated data and analytics warehouse.
The analytics and AI solutions for the Cannabis industry included implementing AI/ML for:
- Customer segmentation
- Forecasting
- Promotions and vendor credit management
- Inventory planning and optimization
We created a Conversational GenAI solution for Business Intelligence and a GenAI solution to automate cleansing, normalization, and enrichment of previously messy cannabis product data across the enterprise.
Key Results
The client successfully migrated to a secure, modern cloud data platform (Google Cloud). The project delivered tangible results across the organization:
- Efficiency Gains: The client saved hundreds of hours by automating key backend processes and eliminating manual data management.
- Strategic Planning: Gained integrated data sets for historical analysis, forward forecasting, and planning.
- Targeted Marketing: Customer segmentation enabled our client to optimize marketing spend across channels and increase campaign ROI with targeted offers and communications.
- Revenue & Negotiation: Achieved more efficient promotions, enabling more productive negotiations with vendors to generate incremental revenue.
- Most importantly, the client transitioned to the next-Gen data- and analytics-driven retail model, enabling significant growth.