Frequently Asked Questions - Analytics
What is Hifyre IQ?
Hifyre IQ™ – The cannabis industry's most complete real-time sales data analysis platform. Our live sales data, customer demographics and market trend analysis will help your team identify opportunities. We help you understand directional data such as the products that are performing, trends on product categories and an advanced prediction engine to estimate major market moves.
What is our data source?
Hifyre IQ utilizes private retailer point of sale (POS) data and stats CAN data. It is then attributed all the way down using predictive models to a regional, LP, subcategory, and & SKU level for fairly granular insights.
What is your national coverage? Are there any provinces not covered?
The national coverage of Hifyre is available on the ‘Regions’ time of the Market Dashboards overview page. We provide the most up-to-date coverage percentages on a provincial level.
Are there any provinces not covered?
We are active in provinces where there are private retailers available. The most up-to-date on which provinces and their current coverage percentages are available on the ‘Regions’ tile of the Market Dashboard’s Overview dashboard.
What should we know about estimated regions?
We calculate estimated regions with no coverage based on existing LP/Brands/Product equivalencies available in that province, and use national demand signals to project. Please note, estimates for these provinces help us complete our national picture, and therefore should not be used in isolation because it is prone to large errors, which are otherwise minor in terms of the larger picture.
Are sales adjusted for regions?
Yes, sales and unit values shown are adjusted to reflect their associated regional and share weightings.
Why are some Canadian Cannabis Retail Revenue months forecasted on the Overview dashboard?
On the Cannabis Retail Sales Overview dashboard, blue is transactional sales for Canada, and red is the sample we are doing estimates from using prediction models. Once published and available, actuals are retroactively adjusted and forecasted sales are re-estimated.
How frequently is Hifyre IQ data updated?
Our Hifyre IQ data is updated once a day including weekends from POS data to our dashboards, and takes place in the early mornings. Actual sales data reported by Statistics Canada lags 2 months, and is updated every third Friday of the month.
Can historical data be adjusted?
The Hifyre IQ model is a live model, meaning there can be periodic updates to historical data. Major updates are communicated via email updates.
Is this medical or recreational data?
Data in HiQ is based on recreational Canadian cannabis data sales.
How far back in time is data available on Hifyre IQ?
Hifyre market data is available back to July 2020.
What is a Licensed Producer? What is a Licensed Producer Group?
A Licensed Producer (LP) is a Canadian regulatory term for the organization/facility that is licensed to produce cannabis products across various brands. There are also LP groups which are holding companies that can contain one or more LP’s and their brands underneath. Some market dashboards now use a default view at the LP holding group level. Filters are available to drill down from LP Group to LP, and down to brand level and the Landscape tile on the LP dashboard reflects the associations between brands and LP/LP groups respectively.
An update was made on my account, how long should I wait?
Please allow a minimum of 24 hours for any changes/updates made to propagate on your account.
What does discounts mean?
The ‘share of sales at discount’ is current data available in Hifyre IQ. Discounts can be for any reason such as store/LP markdowns, etc. and this represents all sales at a discount meaning under the retail price, non-specific.
Why does Quebec and a few other provinces have an asterix?
We calculate QB and other provinces where transaction data is not feeding our estimates based on existing LP/Brands/Product types known to be available in Quebec, and use national demand signals to project for QB.
Please note, estimate for QB to help us complete our national picture, and therefore QB should not be used in isolation because it is prone to large errors, which are otherwise minor in terms of the larger picture.
Does Sales Data/Pricing data include tax?
All Prices are based on the pre-tax amounts.
Are price tiers equalized to THC?
Our price tiers are not equalized to THC or by price/g. We use the item’s average price sold against its peers, where peers are based on the same classification and product format. These tier groupings can be found in the footer of the Price Tiers dashboard.