Unlock your restaurant’s potential: Lost data is lost opportunity
Optimization is crucial for any good business, and restaurants are no different. Focusing on things like increasing efficiency and growing revenues per customer is what makes a great restaurant a winning business, and you can’t do that if you don’t measure your performance.
Your business already produces tons of valuable data every day, but you’re likely losing all of it scattered across excel, maybe your phone, and on binders full of paper in your office. Until recently, all this measuring and analyzing of business performance digitally used to be the exclusive domain of large corporations, chains, and franchises who hire data-scientists with top $100,000+/year salaries. No longer. Now you too can find and unlock the revenue potential in your business data for a fraction of the cost.
Analytics means custom business intelligence
Analytics is already a huge part of e-commerce, enabling even small online businesses access to shared resources that engage with their customers, personalize their experience, and increase sales.
In the food service industry, customer information from mobile payments and self-reservation systems enable servers to tailor the dining experience, while digitizing back of house information like inventory and employee scheduling allow you to monitor the status of your business in real time. Restaurants are getting a taste of how their data can enable insights that just ten years ago would’ve seemed like magic.
The time to start building your analytics pipeline is today
So what can you do to bring some of this magic home to your restaurant?
Start building the digital infrastructure of your business now, so you can take some time to spread out your investment and ease the learning curve for your team. It will likely take another year or two for the "food tech" movement to really gain momentum and reach critical mass, so by starting now you’ll be reaping the rewards before your competitors catch up. Most of the products available in the restaurant tech market are cloud-based and modular, meaning no additional hardware or software is needed, and you can sign up or cancel at any time, paying for only what you really use.
Scheduling happens to be a great area of your business to start with, because your staff is at the core of your operations and create an excellent foundation to build out from. Starting with an application like SchedulingDirect, you can integrate other data streams like point-of-sales or payroll to create an overview of your team’s performance from revenue to cost.
All of this is just the start. Thanks to new technologies like beacons and sensors embedded in wearables, every physical interaction in the real world is becoming a source of data. As the cost of collecting data keeps dropping like a stone, all the digital processing power we’ve built up over the past two decades is about to be unleashed to start optimizing our real-world, everyday lives. Winning restaurants will be making smart decisions on real time business data, leaving those who are unable to adapt in the dust. The question is, what will you do?