For those in the food & beverage industry such as restaurant owners, food service providers, and those looking to expand their franchisor businesses, leveraging account based analytics platform has been very beneficial. These platforms provide insights and analytics that can help streamline production innovation, strategically expand your brand, equip your sales team with data-driven insights, and more. However, as with any data-backed technology, it is important to consider both the pros and cons of account based analytics platforms to make sure you are using the right tool for your business needs.
In this article, we will look at the benefits and potential drawbacks of using account based analytics for restaurants, including how the technology can inform marketing, sales, and operations decisions, as well as potential risks such as data accuracy and privacy. We will also provide a comparison of the two major account based platforms language for foodservice and Brizo.
What are account based analytics platforms?
Account based analytics platforms provide in-depth, data-driven insights into the restaurant industry – including menu data, restaurant tech coverage, and sales prospecting. These platforms specialize in providing comprehensive industry insights to inform decisions about marketing, sales, and expansion. By leveraging account based analytics, businesses can more effectively target markets, attract, and convert leads, and close more deals.
Benefits of Using Account Based Analytics Platform
There are several key benefits to using account based analytics platforms for restaurants. The first is that they offer insights that are specific to the foodservice industry, which can be invaluable when strategizing marketing, sales, and operations. For example, many of these platforms enable businesses to find kitchens and equip their sales team with more targeted data.
Account based analytics are also beneficial because they often offer enriched data that is not available through traditional data sources, providing businesses with a more comprehensive view of the market. This additional data can be used to make more informed decisions about expanding operations.
Finally, utilizing account based analytics for restaurants can help business owners and operators reduce operational costs. By leveraging data to accurately target markets and optimize operations, businesses can reduce spending and free up resources for other strategic initiatives.
Potential Drawbacks of Using Account Based Analytics Platform for Restaurants
Despite the numerous benefits of using account based analytics platforms for restaurants, there are some potential drawbacks that should be considered. One of the primary risks is data accuracy. Platforms often rely on outside sources for their data and there is no guarantee that it will be accurate or up-to-date. Additionally, these platforms may not be compliant with current data privacy laws in certain regions.
Another potential challenge is the cost. While many account based analytics platforms provide a free trial, in many cases, businesses will have to pay a subscription fee. These fees can range from a couple hundred to a few thousand dollars per month. For small businesses, or franchises that are looking to start up operations in new markets, this cost may be prohibitive.
Comparing Two Major Account Based Analytics platforms
When considering which account based analytics platform is best for a restaurant business, there are two major players to consider: Language for Foodservice and Brizo.
Language for Foodservice is a comprehensive analytics platform that focuses specifically on the food service industry. It provides rich and insightful industry data, as well as custom menu data and in-depth restaurant tech coverage. It is a great choice for restaurant businesses that are looking for comprehensive market insights and data.
Brizo is a powerful analytics platform that focuses on a variety of industries, including the restaurant industry. It features advanced e-commerce tools for sales prospecting, marketing, and data enrichment. The platform also offers the ability to find providers and kitchens and streamline production innovation.
Last ideas
Utilizing account based analytics platforms for restaurants can be extremely beneficial to businesses – offering powerful insights and analytics to optimize sales, marketing, and operations decisions. However, it is important to consider the potential drawbacks, such as data accuracy and privacy, as well as the subscription costs of the platform.
When choosing an account based analytics platform, it is important to consider your specific needs and compare the features of the two major players: Language for Foodservice and Brizo. Ultimately, the best platform for your business will depend on your individual needs.
