Businesses that use analytics can boost their profits by 8% to 10%. Yet only 12% of these companies tap on the power of such data.
Restaurant analytics take every data available, combine, analyse, and translate them into tangible and actionable insights. Furthermore, these data can reveal the blind spots in a restaurant’s daily operations. By combining different sets of data, analytics can bring to light issues that are either originally difficult to identify manually or are unexpected. With the help of restaurant analytics, restaurateurs can also spot emerging consumer trends and build on them.
Here are some of the data analytics that every restaurateur should familiarise themselves with:
Conclusion
Restaurants are rich with data but restaurateurs do not have to be full-fledged data scientists to successfully analyze data and run the establishment at peak efficiency. With the right solutions to do the heavy lifting in pulling the relevant data, restaurateurs can effectively process the analytics and insights as well as make the changes in response to them.
Software like FoodRazor automates the invoice digitising process and efficiently tracks what has been ordered by the staff so that the numbers can be checked across all other software to ensure no over-ordering or food wastage. FoodRazor also identifies any price hikes in real-time accurately so that restaurateurs and managers alike can take action quickly to prevent overspending on ingredients.
