With the world becoming increasingly interconnected and globalized, understanding neighboring populations and international dynamics have become essential components to success in a number of industries. For those in the food service and manufacturing industry, understanding who, where, and how people are making decisions about their food can be invaluable in driving progress.
In order to get the most accurate data-backed insights possible, it is important to make sure you take several key considerations into account when it comes to utilizing food intelligence. Here are the top 10 things to consider to make sure you get the most out of your food intelligence efforts, whether you are a restaurant technology provider, a manufacturer, or a regulatory body.
1. Establish Priorities for Analysis
Making sure that your first step is to establish and prioritize the areas of food intelligence that you are most interested in gathering data on is essential in order to make sure that all your insights are actionable and relevant. Your own specific objectives and goals should dictate the types of insights you pursue and how you go about collecting them.
2. Make Sure You Have Access to Global Data
Due to the international nature of the food industry, having access to food intelligence from a global perspective is essential in order to make sure you have the most comprehensive understanding of nations and cultures’ dietary habits. This is also especially important for restaurant technology providers, as well as regulatory bodies, in order to understand details such as foreign regulations, sales channels, and strategies for expanding into those markets.
3. Designate a Research Plan
Having a clear research plan in place is essential for executing a successful and comprehensive food intelligence effort. This plan should include tasks such as what kind of data needs to be collected, the sources for the data, and the methodology which falls in line with the established objectives. Be sure to prioritize those elements of food intelligence most closely related to the objectives set in the first step.
4. Establish Your Data Collection Parameters
When selecting your data sources and tools, it is important to define the range of information that is collected. Having a clear set of parameters for data collection will help in making sure the data is sufficient and relevant enough to meet the objectives. It also supports the research plan, as it can dictate the methodology used and the type of data required.
5. Utilize Multi-Country Data
In order to truly understand the global food industry, you should be leveraging data from multiple countries. Having access to multi-country data will allow you to uncover trends and correlations between different nations and regions, as well as identify common challenges and solutions which could be of use in various markets.
6. Utilize Advanced A.I. and Machine Learning
In order to concisely and accurately assess large amounts of data from around the world, it is helpful to make use of advanced Artificial Intelligence and machine learning capabilities. Not only can this speed up the data collection and analysis, but this can also provide insights which may not have been uncovered with traditional methods.
7. Invest in Data Security and Privacy
When collecting food intelligence data, it is important to make sure that the data is stored in an encrypted format, so as to ensure the data is not accessed without permission. In addition, it is equally important to make sure that any information regarding individual customers and their dining purchases remain completely anonymous.
8. Consider Customizing Insights
When it comes to food intelligence, it can be beneficial to make use of tools which will allow for customizations regarding specific questions and objectives. This can make it easier to discern patterns within the data and answer more precise questions.
9. Utilize Real-Time Tracking
Due to the ever-changing nature of the food industry, it is important to understand the data in real-time in order to maximize its value. Using tools which allow for real-time tracking of food-related trends can help ensure that insights are quickly identified and allow for prompt action.
10. Generate Engaging Presentations
In order to get the most out of the data, it can be helpful to have presentations which are engaging and highlight the key insights in an easy-to-understand format. This is especially important when it comes to presenting to clients and decision-makers, as they will have to take the data into account in order to make informed decisions.
Having a sound understanding of the top 10 things to consider when it comes to food intelligence is essential in order to ensure that the best insights possible are attained and integrated into decision-making processes. By leveraging advanced technologies, such as Artificial Intelligence and machine learning, and taking into account key considerations such as data privacy and the ability to collect data from multiple countries, companies will be able to make use of the valuable insights they uncover and drive their food service industry operations forward.
