Month: August 2018

How to Tell if You’re Banking a Pot Business

Katie Orong, 8/27/18

Though established over 70 years ago, Salal Credit Union in Seattle only began exploring business banking in 2012. And at first, it took clients at their word. “We were still in the infancy of our business banking growth,” said Russell Rosendal, chief executive and president of the $594 million-asset credit union. “They might say that they were a flower business or something like that.” Due diligence afterward caught customers that didn’t disclose they were in fact selling medicinal marijuana (legalized in Washington state for medical purposes in 1998 and for recreational use in 2012), but the issuance of the Cole Memo persuaded... Read More >

How to Use Regression and Classification in the Regulatory Space

Adam Zukowski, 8/24/18

When it comes to analyzing data there are a variety of methods that can be used. But most applications of data analytics today fall under one of two categories: regression and classification. Regression is the process of using past data to predict the future value of a continuous numerical variable. This can include anything from predicting a stock’s price next week to predicting how many people will be infected by an epidemic. Classification, on the other hand, is the process of using past data to place data points into discrete categories.... Read More >

Qualitative vs. Quantitative: Which Method Should You Use?

Isaac Freitas, 8/10/18

Any analytics project, whether analyzing for compliance in cannabis regulations or measuring market dynamics over time, begins through understanding the data available. Data can be placed broadly into two categories: quantitative and qualitative. These categories determine whether statistical and/or mathematical techniques are appropriate for the research. Quantitative data encompasses any information represented in a numeric form, such as integers for a count of plants, or continuous intervals or ratios, like a measure of weight or a percentage. Reliable quantitative data has more precision, leading to more defensible results (e.g., there are two plants per square foot). Quantitative data can be used... Read More >

California Cannabis Authority Partners with NCS Analytics for New Statewide Cannabis Data Platform

Katie Orong, 8/28/18

Denver, Aug. 28, 2018–The County-led California Cannabis Authority (CCA) has announced a partnership with NCS Analytics to establish a statewide data analytics platform for local California jurisdictions to monitor and regulate cannabis licensees. The platform will enable member counties and participating cities to effectively regulate and enforce the rules and regulations surrounding the legal production and sale of cannabis in California. The platform will enable greater tax compliance and open the doors for cannabis banking in California. “We are elated to be a part of this first of its kind organization,” said Adam Crabtree, CEO of NCS Analytics.  “We have long... Read More >