Data powerhouses work together to redefine understanding of cannabis consumers and markets
LOUISVILLE, Colo. and PITTSBURGH, June 22, 2023 (GLOBE NEWSWIRE) -- BDSA, the premier source of market research and analytics for the cannabis industry and Management Science Associates, Inc. (MSA), a trusted provider of innovative analytics and data-driven solutions for Fortune 500 companies, today announced a strategic alliance to revolutionize cannabis market insights. This collaboration marks a significant milestone in the industry, bringing together the expertise of both organizations to provide unparalleled data collection, reporting and analytical capabilities to those participating or interested in the cannabis market.
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 CPG, health care and government sectors, and providing in-depth technical support to clients with complex data requirements.
One of the key advantages of this collaboration is MSA's unique, patented and HIPAA-compliant methodology for de-identifying protected health information. Combined with BDSA's comprehensive data, this methodology enables statistical analysis of consumers and delivers groundbreaking insights into the intersection of purchasing cannabis and pharmaceuticals for health care needs. For the first time, statistically significant cannabis consumption and real-world health care data will be combined to identify the impact of cannabis consumption on consumer health and purchasing. Pharmaceutical, consumer packaged goods (CPG), government agencies, academia, health care and cannabis companies eagerly anticipate these insights.
“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.”
Through this strategic alliance, BDSA and MSA resolve critical issues for their clients. Manufacturers contemplating entry into the cannabis industry often face the challenge of limited visibility into cannabis dispensary sales. The integration of BDSA's data with MSA's reporting and analytical capabilities empowers manufacturers to target the right products to the right consumer audience, eliminating the guesswork.
“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.”
For BDSA clients, this alliance opens new doors of opportunity. By merging BDSA and MSA data and analytics, expanded insights are made available, including cross-category purchasing and impact, medical audience segmentations, opportunity sizing, fair share reports and longitudinal customer analytics. The collaboration between BDSA and MSA promises to reshape the understanding of cannabis consumers, uncover transformative insights and drive growth and innovation in the cannabis, CPG and pharma categories.
About BDSA
Headquartered in Louisville, Colorado, BDSA helps businesses improve revenues, reduce innovation risk and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, wholesale data, consumer research and market forecasts. To learn more, please visit bdsa.com.
About Management Science Associates, Inc.
Since 1963, MSA has partnered with institutional and commercial customers to identify areas in which innovative analytics and uses of data can deliver incremental growth and drive efficiency.
Combining its expertise with the tools of information management, analytics, data management, software and systems technologies, MSA develops, integrates, implements and maintains products and services in various functional and vertical domains.
MSA helps customers put their data to work. To learn more, please visit msa.com.
Media Contacts
Katie Jewett
UPRAISE Marketing + PR for BDSA
415-397-7600
bdsa@upraisepr.com
Jennifer Wolfe
Senior Enterprise Analytics Director for Management Science Associates, Inc.
412-228-2578
jwolfe@msa.com
