MJ Analytics, an Akerna product built on Domo's modern BI platform, generates six figure sales increase
DENVER, Jan. 6, 2021 /PRNewswire/ -- Akerna (Nasdaq: KERN) ("Akerna" or the "Company"), a leading compliance technology provider and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), is pleased to provide an update on the continued success of MJ Analytics, a next-generation cannabis data analytics platform.
Made possible through Domo's modern business intelligence platform, MJ Analytics offers enterprise-level data tools, providing Akerna's partners with unparalleled access and insight into the complete cannabis supply chain, from seed to sale.
Within less than 90 days of launching MJ Analytics, the platform has generated a six figure increase in sales and helped clients reduce manual reporting workflows by 90% through the use of scheduled reports. With a 95% positive product feedback based on recent surveys, MJ Analytics is proving its value as a first-of-its-kind actionable insights product.
Since launch, MJ Analytics has:
- Processed a total of 5.1 million queries
- Averaged 3.6k queries a day with peaks of 20k queries during month ends
- Signed up 40 clients for Premium Analytics, through either a trial or paid subscription
- Migrated MJ Platform clients over to Standard Analytics
"We are thrilled the find that our clients are enjoying the simplified user experience and easy-to-understand data visualizations that MJ Analytics provides," said Hanks Wang, Director of Data & Analytics, Akerna. "As new cannabis markets start to open over the coming year, we look forward to helping both burgeoning brands and enterprise-class businesses alike streamline their operations."
"One of Domo's key differentiators is its ability to support companies of any size in creating more value for customers and new revenue streams from their business data," said Robert Davy, vice president of customer success. "We're proud, through our Domo Everywhere offering, to help innovative companies like Akerna use data in new ways to drive their business forward."
Akerna (Nasdaq: KERN) is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industry. Based in Denver, Colorado, the Company's mission is to create the world's most transparent and accountable supply chain by building a cannabis technology ecosystem connecting data points across the global cannabis supply chain from seed to sale to self. First launched in 2010, Akerna has tracked more than $20 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq.
Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions. The Company's cornerstone technology, MJ Platform, the world's leading infrastructure as a service platform powers retailers, manufacturers, brands, distributors, and cultivators. Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, MJ Freeway, Leaf Data Systems, Trellis, and Ample Organics.
For more information, visit https://www.akerna.com/
Certain statements made in this release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the ability of the MJ Platform team to help operators make decisions through analytics and reporting. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna's ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna's filings with the U.S. Securities and Exchange Commission, including those under "Risk Factors" therein. You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna's industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
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Released January 6, 2021