The foodservice industry is adjusting to increasing pressures and evolving demands. With the saturation of the market, it’s now more important than ever to make sure that you’re leveraging the best possible resources to stay competitive. Account-based analytics platforms, such as Brizo, have become powerful tools in the world of data-driven marketing, sales, and operational insights.
This article will provide an overview of the benefits and drawbacks of account-based analytics platforms, with an emphasis on the restaurant industry. With the following information, restaurant owners and operators should feel equipped to make an informed decision about whether or not this technology is right for them.
The Benefits of Account-Based Analytics
The first and most obvious benefit of restaurant account-based analytics is the ability to access untold amounts of data about trends, competitors, vendors, and more. By analyzing this data, restaurant owners and operators can leverage insights to make better informed decisions about their operations.
Through its menu data and restaurant tech coverage, Brizo offers users unfettered access to valuable data-driven knowledge. Insights into customer behavior, market trends, seasonal changes, and inventory planning can be had with relative ease. This makes it possible for restaurants to quickly analyze their customers’ preferences and make faster decisions about what they can do to increase sales.
Moreover, account-based analytics can also be used for sales prospecting and marketing. By harnessing the power of data science, artificial intelligence, and big data analytics, restaurant owners can dramatically accelerate their sales processes and quickly identify potential leads. This makes it extremely easy to reach out to restaurants who may be interested in using their services. Ultimately, this allows the restaurant to convert more leads into actual customers.
Lastly, account-based analytics also facilitated brand expansion and collaboration with kitchen locations. The data-driven insights available through account-based analytics can be used to streamline production processes, identify potential partnerships, and execute strategies to expand the brand to more locations.
The Drawbacks of Account-Based Analytics
Before fully committing to an account-based analytics platform, restaurant owners and operators should be aware of the possible drawbacks. Primarily, these platforms can be quite expensive due to their feature availability and comprehensive insights.
In addition, some restaurant owners and operators may not find the data as relevant or useful as they would have initially hoped. Sales and marketing insights may be gathered too late for earning a return on investment, and accounts can be difficult to maintain without continuous monitoring and optimization.
Lastly, restaurant owners and operators should be prepared for a steep learning curve if they’re not familiar with these types of data-driven insights. The platform requires a certain degree of technological fluency, which may be difficult to obtain if you’re not well-versed in software and data platforms.
Restaurant account-based analytics platforms such as Brizo have become powerful tools for data-driven insight and analysis. Through these platforms, users can access a wealth of data to use for sales prospecting, marketing, and operational insights. While the benefits of this technology seem apparent, it’s important to be aware of the drawbacks such as pricing, relevance of generated data, and the learning curve to truly benefit from the features.