The data collected in Metrc’s system gives state agencies insight into the health and behavior of the regulated market. Data markers can reveal if fees or rates of taxation are being shared equally by all segments of industry and if they are generating the expected rates of return. They inform the impact of policy adjustments, flag unusual discrepancies, provide the impetus for new health measures, and offer proof that new initiatives are having the desired impact. Metrc data provides policymakers with insight that will help shape better outcomes in the markets we serve.
Data collected in Metrc’s system helps improve policy outcomes in the states we serve—providing real-time measures of market performance that can be used to verify financial statements, sales reports, industry audits, and other essential aspects of compliance.
Metrc data protects businesses that are playing by the rules. It strengthens and rationalizes regulated markets by providing a single source of truth that banks, regulators, law enforcement, and industry leverage to catch bad actors and to help ensure that market rules, fines, taxes, and fees are being applied fairly and equitably.
In addition to the reports Metrc provides, Metrc’s state customers can use industry-standard SQL queries to:
- Generate regular reports on the state of the market
- Create ad hoc reports that can spot unusual activity
- Detect trends that have the potential to shape policy
Using the data Metrc provides, regulators can monitor tag usage, harvest yields by county and grower, test results, sales volume, transfer frequency, and chain-of-custody information, among other indicators. The transparency of Metrc data provides regulators the tools they need to support the broadly shared goal of ensuring cannabis markets are healthy, stable, and secure.
"The (RFID tag) technology allows a cultivation manager (or state auditor) to audit an entire facility in about twenty minutes instead of twenty hours. What’s even better is the ability to automatically record and document weights for compliance tracking when cannabis plants are harvested—one of the most labor-intensive and time-consuming processes in the cultivation cycle."
— Jeremy O’Keefe, Founder and CEO, Yobi