How Restaurants Are Using Data and Analytics to Increase Profits

Major independents and franchisees alike are clinging to data in the hope that it will help them succeed in this contemporary business landscape as digitization reshapes the functional and operational outlook of the restaurant industry.

Problem: Only a few stakeholders know how to extract insights from it

What is Restaurant Data Analytics?

Restaurant data analytics is the process of analyzing every data point related to your business and converting them into meaningful insights, which can help improve everything from menus and staff training to restaurant policies and marketing campaigns.

How Data Analytics Improve Revenue
Restaurant Data Analytics won’t magically improve your revenue, but they can present you with robust and actionable insights to make business decisions.

Benefits:

Analysis of the Data from CRM – used to improve the menu, evaluate order amounts, and introduce more items on the menu

Helps to decide highlight items for Restaurant Marketing Campaign

Customer Profiling

Operations Improvement

Table Turnover Optimization

Sales Forecasting

Lifetime Value and Repeat Customer Trends

Role of Predictive Analytics for Restaurants

Utilizing historical data, predictive analytics makes predictions about future trends and results. Although useful for any business, when applied to restaurants, this strategy can significantly increase your revenue.

• Improve Order Accuracy
• Forecast Trends
• Minimize Food Waste
• Better Planning

Data analytics is gaining traction as restaurants’ systems become more widely dispersed with rich sources of data. The right tools must be purchased by the ambitious, money-focused restaurateur in order to gain actionable insights. Restaurant data analytics would ultimately steer your company in a direction where it expands and prospers.

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