Whether you’re a franchisor looking to expand locations or a foodservice business seeking to understand local trends, restaurant analytics can help you make better decisions. In a fiercely competitive market, food and beverage providers rely on restaurant analytics to gain a deeper understanding of their customers and the market at large. Brizo provides a board and diverse set of data for such deeper insights and analysis. It can give you an edge in sales prospecting, marketing and operations, ultimately helping you attract, convert and close more leads.
In today’s business-driven world, you probably know that data is everything. That’s why it’s important to be able to evaluate and understand restaurant analytics. This guide explores the nuances of restaurant analytics and how to use them to make better decisions.
What Is Restaurant Analytics?
At its most basic level, restaurant analytics is the analysis of restaurant data. This data is collected from customers, menus, financials, and other various sources of information. Restaurant analytics is used to identify patterns, trends, and correlations in order to gain insights into how customers, competitors, and the market are responding to a restaurant’s efforts.
For example, restaurant analytics can help identify what types of dishes customers are ordering, most of the time, so you can then add more of your most popular dishes onto the menu. It can also help you understand customer preferences on occasion to target offers and promotions. Restaurant analytics also lets you determine which types of customers spend the most, and their demographics. This data can help you hone in on target marketing campaigns to increase new customer acquisition and revenue.
Types of Data
Brizo provides data fields specific to the foodservice industry. Here are some of the types of data you can expect to get from restaurant analytics:
In-depth Menu Data
Menu data includes information such as dish descriptions, prices, ratings, and number of units sold. This data allows you to optimize your menu for maximum profitability, by creating dishes that are sure to be popular.
Restaurant Technology Coverage
Technology coverage includes analytics around ordering systems, online presence, delivery services, and more. This data helps you stay ahead of trends in the marketplace and lets you know how customers are using technology to interact with your business.
Financial Performance
Financial performance data includes things like sales figures, costs, and profit margins. This data can be used to better manage cost, set prices, and optimize operations.
Benefits of Restaurant Analytics
The benefits of using restaurant analytics far outweigh the costs. Here are some of the benefits of using restaurant analytics:
Improve Operations
By understanding how customers interact with your restaurant, you can make more informed decisions about how to run your business. You can optimize your menu, create targeted promotions, and better manage costs. This can lead to improved customer satisfaction, greater loyalty, and higher revenues.
Streamline Production
Analytics can give you a better understanding of customer tastes and preferences. This allows you to develop products that are more likely to be successful, resulting in less waste and greater profitability.
Gain More Customers
Using analytics can help you determine which types of customers will be most likely to purchase your products. This allows you to create more targeted marketing campaigns, resulting in more customers and more sales.
Takeaways
Data is power. Restaurant analytics can provide you with valuable insights into customer behaviors, trends, and opportunities. With this data, you can make more informed decisions that will ultimately result in increased profitability. With Brizo’s board and diverse set of data, restaurants can gain a deeper understanding of their customers and the food service market.
