Every restaurant operator grapples with a common dilemma. Big problems are easy to identify and there’s often a clear plan to manage them. However, it’s the small inefficiencies and unknown opportunity costs that are crippling over time. These smaller problems can be invisible compared to the pressures of daily operations and pop-up crises, and neglecting them only provides more time for the damage to accrue.
Is there a way to get ahead of the less apparent issues and manage them before they become unavoidable problems, including:
- Underperforming menu items and food waste
- Marketing campaigns that don’t target or attract the right customers
- Lost sales due to FOH staff with slow turn times or below average tickets
- Disruption from over-the-horizon issues, like increases in minimum wage
Restaurant data analytics is designed to not only reveal those inefficiencies but point to strategies that can eliminate them. It turns a magnifying glass on small problems and delivers a range of potential solutions. And that’s not all. Analytics is also helping restaurants better understand their operations, their customers, and the marketplace. Those actionable insights lead to more informed and effective decisions, which is how growth and profits happen.
Restaurant Analytics in Action
To begin: what is big data analytics for restaurants? “Big data” is a term applied to data sets too large to be effectively analyzed using traditional techniques. A mid-size restaurant business could have dozens of locations, thousands of staff, and many more customers. It used to be impossible to draw meaning from all the data generated at that scale of operations… until now.
Analytics includes a variety of techniques and tools that gather, examine, test, and manage data sets of all sizes:
Data is sourced from all available inputs, including sales information, customer behaviors, staff performance, inventory data, and more. Analyzing big data allows restaurant businesses to make better and faster decisions. Restaurants powered by analytics are more agile, more competitive and more able to both cut costs and maximize profit opportunities.
Restaurants that use analytics to have the same questions as restaurants that don’t, but the restaurants that don’t are finding it more and more difficult to get the answers they need.
Decision Logic provides the insight to these small inefficiencies for our restaurants to make impactful decisions benefitting their bottom line. Ready to make the switch? Get A Demo or contact us for more information!