Jessica Jansasoy
How Dispensary POS Are Different to 3rd-Party Analytics Tools

Can a dispensary POS system do better than an analytic tool for analysis and decision-making?

When choosing the essentials to run your business, the tech stack always comes as a big step. Mostly because of all the online buzz around choosing the correct software for your business and, of course, important things like competitive advantage and scalability.

Also, if you’re just starting out, you don’t want to overspend on analytic tools you won’t use. Not when you have a POS system with all your data already. So, do you need analytic tools on top of your POS system?

In this article, we’ll go over the differences between dispensary POS systems and analytic tools to find out.

What Are the Three Types of Analytics?

First things first! 

To analyze data, you must understand the three different types of analytics you’ll stumble on to. Here are the definitions:

Now that you understand these general terms, we’ll discuss how these apply to POS systems and analytic tools. However, as there are diverse analytic tools with different capabilities, we’ll use Happy Cabbage Analytics in this context.  

POS Analytics Are Almost Always Descriptive

If you did your research when looking for dispensary POS, you’ll find that software like Treez, BLAZE, Dutchie, and Flowhub all have these analytics on their dashboards:

These descriptive analytics show you a story of what has already happened and “what is” on your dispensary. Still, descriptive analytics by themselves aren’t enough for decision-making. They don’t answer questions like:

Those questions have answers when you export your excel spreadsheets and do the manual work. Or when you get an analytic tool that does this for you.

3rd-Party Analytics Tools Are Descriptive, Predictive, and Prescriptive

Analytic tools are descriptive, prescriptive, and predictive. But how do they come together with dispensary POS?

Typically, 3rd-party analytic tools integrate with your POS system to get historic data and deliver insights. Happy Cabbage Analytics, for example, plugs into the transaction data in your POS and reframes your data (reducing the manual work for you). This data transform into insights so you can choose a course of action.

Some examples of how you can leverage this data are:

Why You Need Both POS & 3rd-Party Analytics for Your Dispensary

As you may have already guessed, you need both a POS system and analytic tools to make informed (and accurate) business decisions. Your POS system can’t make predictive or prescriptive analyses. It’s designed for you to understand your transactions at the store level.

But 3rd-party analytic tools, like Happy Cabbage Analytics, take the data from your transactions to perform descriptive, predictive, and prescriptive analysis. And you just need to make sense of the results instead of doing the math yourself.

As a side note, even though analytic tools can make all the types of analysis in the book, they still can’t replace your POS system when it comes to processing orders and unifying your store operations.

Key Takeaways