Businesses thrive on making the right decisions. Projecting what inventory will sell is important.

1. Module 2
Lesson 7:
Data Mining and
Reporting
Data Mining and Reporting
Businesses thrive on making the right
decisions. Projecting what inventory will sell is
important. Data mining and reporting is what
makes forecasting possible.
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(c) 2018 STWC Holdings, Inc. All Rights Reserved

2. Module 2
Lesson 7:
Data Mining and
Reporting
Durable vs. Non-Durable Goods
A durable good is something that has a long
shelf life and will not go bad.
▸Vape pen
▸Grinder
▸Lighter
A non-durable good has an expiration date and
will go bad if not used.
▸Flower
▸Edibles
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(c) 2018 STWC Holdings, Inc. All Rights Reserved

3. Module 2
Lesson 7:
Data Mining and
Reporting
Baye’s Theorem
Baye’s Theorem describes an event, based on prior
knowledge of conditions that may relate to an event.
For our purpose the event is a customer’s purchase
and which strain and the amount the customers may
buy.
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(c) 2018 STWC Holdings, Inc. All Rights Reserved

4. Module 2
Lesson 7:
Data Mining and
Reporting
Data Mining
Data are facts and statistics complied together for
easy reference. The process of collecting, organizing
and generating useful reporting using this data is
called “data mining.” Descriptive data mining is useful
because past behaviors help predict patterns of future
purchases.
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(c) 2018 STWC Holdings, Inc. All Rights Reserved

5. Module 2
Lesson 7:
Data Mining and
Reporting
Data Mining Helps Track
▸Inventory
▸Average customer spend per visit
▸Year to year change in sales
▸Create buyer profiles
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(c) 2018 STWC Holdings, Inc. All Rights Reserved

6. Module 2
Lesson 7:
Data Mining and
Reporting
Summary
Cannabis is a non-durable good. This means that if
a business orders the wrong inventory and it sits
unsold, the business is at risk losing money. A
business can rebound from an error in ordering a few
times, but if it is a regular occurrence cash flow will
become a huge problem. Therefore, data mining is
key when running a business. Keeping secure
customer records and reviewing their purchases
allows you to mine or find the trends that are
happening in your business. Forecasting will help
you keep your inventory or sales numbers in
alignment. The better you forecast the more
successful you will be.
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(c) 2018 STWC Holdings, Inc. All Rights Reserved