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NCS Analytics Unveils Its Game-Changing Risk Index

In a significant advancement for cannabis compliance, NCS Analytics has announced the launch of its innovative Risk Index—a pioneering tool tailored for regulatory authorities in the cannabis sector. By transforming complex data into simplified risk scores, this tool is set to change how regulators enforce compliance and ensure public safety.

Simplifying Compliance Oversight

Adam Crabtree, the CEO and founder of NCS Analytics, emphasized the necessity of effective oversight in the increasingly legalized cannabis landscape. He remarked, "Cannabis legalization demands robust oversight to maintain a safe, compliant market." The Risk Index works like a credit score for cannabis operators, scoring licensees between 0 and 100 based on potential licensing violations. This score allows regulators to easily identify which businesses merit closer surveillance and intervention.

The Risk Index utilizes a comprehensive system that aggregates vast amounts of data from various sources, including the predictive and behavioral analytics engine developed by NCS Analytics. This unique system compiles data points to generate a singular risk score for each cannabis licensee, helping regulators filter through numerous data reports more efficiently.

Features of the Risk Index

The interface of the Risk Index, which was collaboratively designed with experts from the Wharton School's Choice Architecture Lab, has been tailored for user-friendliness. This accessibility ensures that regulatory officials can pinpoint high-risk operators swiftly and accurately. The tool encapsulates the crucial elements of cannabis oversight, addressing both aggravating and mitigating factors related to licensee performance.

With many cannabis programs mandating seed-to-sale tracking, the sheer volume of data can be daunting. However, the NCS platform processes millions of data points and alerts authorities to anomalies such as unusual harvest yields or unexpected growth timelines. Thus, the Risk Index effectively streamlines the analysis of this data, presenting a clear order of operations that highlights the licensees most likely in need of investigation.

The Impact on Public Health and Safety

Crabtree emphasizes that ultimate goal of the Risk Index is to empower regulators with the tools needed to navigate the complexities of cannabis regulations efficiently. He reaffirmed, "Our mission is to empower regulators with tools that cut through the complexity of cannabis regulation. The Risk Index is a significant step forward in leveraging data to uphold the integrity of regulated cannabis markets."

About NCS Analytics

Founded in 2015, NCS Analytics has steadily become recognized for its data-driven solutions that promote real-time decision-making in complex regulatory environments. Based in Denver, the firm is dedicated to providing governments and financial entities with actionable insights that mitigate risk and enhance compliance oversight. Presently, NCS Analytics actively monitors approximately 20,000 cannabis licenses across various states, contributing to effective governance in jurisdictions such as Delaware, Oklahoma, Michigan, Vermont, West Virginia, and the California Cannabis Authority.

For more information and to learn how the Risk Index might redefine compliance in the cannabis industry, visit NCS Analytics.