As the food and beverage industry continues to expand, restaurants are increasingly looking to data analytics solutions to better understand their customer base and make more informed decisions. Account-based analytics services have become a popular option for restaurants to collect, analyze, and gain insights into the performance of their business, both internally and externally.
Yet, given the range of account-based analytics solutions available, selecting a provider can be daunting. To help you make the right choice, here is a comprehensive guide to the top ten things to consider when it comes to account-based analytics services for restaurants.
1. Industry-Specific Data
One of the most important things to look out for is data specifically tailored to the restaurant industry. Whether it’s sales prospecting, marketing insights, or production innovation, having access to analytics tailored for the foodservice space is essential for making informed decisions.
2. Data Enrichment
Data enrichment involves gathering a blend of structured and unstructured data sets to yield additional insights. For restaurants, this includes things like menu and ingredient lists, online reviews, customer spending patterns, and other information that can be used to inform marketing and advertising decisions.
3. Sales Prospecting
An analytics provider should be able to help you prospect customers quickly and accurately, giving you access to the right leads at the right time. With this data, you’ll be able to better target potential customers, while also streamlining the sales process.
4. Distribution Analysis
The data should include a thorough analysis of the restaurant’s distribution channels and the overall success of its sales channels. This will help you understand which channels are working well and where changes may be needed.
5. Menu and Ingredient Insights
It’s important to look for a supplier that will provide insights into a restaurant’s menu and ingredients. This will help you gain a deeper understanding of what customers are ordering, as well as what works well (or doesn’t) as far as ingredients.
6. Restaurant Technology Coverage
Restaurant tech is evolving quickly, and the data should reflect this. Look for an analytics provider that will give you insights into the latest advancements in restaurant technology, including self-order kiosks, delivery apps, and more.
7. Local Food Trends
Your analytics provider should be able to provide insights into local food trends in the areas where your restaurant is located. This data can help you identify popular menu items, plan culinary events, and show customer preferences by geographic region.
8. Online and Social Media Presence Analytics
Analytics should also be able to provide insights into a restaurant’s online and social media presence. This will help you gauge how your restaurant is connecting with customers, compare your performance to others in the industry, and refine your marketing strategies accordingly.
9. Cost and Pricing Strategies
Cost and pricing strategies will also be key to the overall success of a restaurant. Analytics should include insight into the prices of competing restaurants in the industry. This will help you adjust pricing accordingly and ensure that you’re getting the most out of your budget.
10. Scorecards and Dashboards
Finally, look for a provider that offers customizable scorecards and dashboards. This will allow you to track progress over time and better manage business metrics.
In the end
Restaurants rely on data to make informed decisions and improve performance. With the right account-based analytics service, restaurants can stay on top of the competition, better manage their businesses, and ultimately, respond to customer needs. As you evaluate your options, keep in mind the ten considerations outlined in this article. Ultimately, selecting a provider that specializes in restaurant data will ensure that you have the insights you need to think differently and stay ahead of the curve.
