Big Data to Standardize Medical Cannabis Industry

Big Data News

Big-Data-to-Standardize-Medical-Cannabis-Industry Big Data to Standardize Medical Cannabis IndustryLooking at hard data to make out trends and patterns seems like the best guess at predicting what the future outcome might be. People today believe that the gathered data, when analyzed, and cataloged can help solve some of the most difficult issues that the society faces.

Last year in Oct. 2018, the recreational use of cannabis was legalized in Canada, also in the US, 10 states support its recreational use. With this legalization, all eyes are on Canada, for best practices and patient care experiences related to recreational use of cannabis. Furthermore, as the cannabis industry prospers and matures, more datasets are expected to surface. The industry has an abundance of anecdotal data, but this abundant patient-reported data syncs in with real-world criteria only with patient choices. But experts claim that the present medical data regarding cannabis is not standardized and according to Prad Sekar, CEO CB2 Insights, who spoke at the Cantech Investment Conference in Toronto on Jan. 29th to Jan. 30th 2019, if cannabis is to be included in the same sandbox as other medications, it must be treated the same.

In the realm of data collection, working together with health professionals is a critical step ahead to gather data, even though these professionals are 3rd party physicians, who work at cannabis clinics or offer services like video chats, standardizing data sets can always be a challenge. Many large medical cannabis companies, today aim to create a standardized, cannabis data, for data reliability and data integrity. The main key point for all these major cannabis companies would be to join forces, unify their clinics and start working on stage one to stage four technique —studies to assess the safety of a drug or device; studies to test the efficacy of a drug or device; studies to involve randomized and blind testing; and studies after drug or device approval for consumer sale—as success benchmarks.