In the food service and manufacturing industry, restaurant account based analytics apps are becoming increasingly popular to help businesses make informed decisions when it comes to their enterprise data. By leveraging technology specific to the food service industry, merchants and restaurateurs can gain deeper insights into market trends, menu data, and technology integration. These analytics applications can help companies better understand their customers, increase sales, expand operations, enhance data resources, and gain an efficiency boost with automated reporting. While these top-tier benefits make them attractive to users, there are both positives and negatives that need to be weighed before taking the plunge.
The Benefits
Sales Prospecting
Account based analytics apps are designed to quickly identify qualified customer prospects. The gathering and analysis of data can easily be automated, thus giving sales reps more time to make contact and close deals. With the aid of intelligent filters, users can easily obtain targeted market insights to focus their efforts for maximum effect.
Marketing to the Foodservice Market
Using data-led insights to drive successful marketing initiatives and campaigns is an invaluable tool for foodservice manufacturers. With the information gathered through restaurant account based analytics, goods and services can be strategically targeted directly to prospective customers. Obtaining a better understanding of the market can also potentially help to reduce costs and create data-driven strategies.
Find Kitchens & Expand Operations
Analytics applications are also beneficial for businesses that are looking to expand their operations by finding new kitchens. By utilizing this type of technology, merchants and restaurateurs can efficiently identify competitive kitchens in their surrounding area to establish shipping arrangements with. Data-led insights can also inform production innovations to help bring their concepts and products to the table more efficiently.
Data Enrichment
Account based analytics apps support companies that rely on extensive data resources to make decisions. With the help of specialized market insights, companies can add a more robust layer of information to their databases to ensure better accuracy and overall performance.
The Drawbacks
Time Consumption
It’s essential to consider the time it takes to analyze the data and configure the filters in order to gain actionable insights. Without proper training, the analysis process can be lengthy and cumbersome. This is when the return on the investment into the analytics platform can be put to the test.
Expense
There’s no denying that keeping up-to-date with the latest technology can be costly. Although an expensive analytics platform can mean big rewards for businesses, not every company has the available resources to take advantage of these platforms.
Security Concerns
Since systems can be managing valuable enterprise data, it is essential to establish strong security protocols to protect the company’s information. Cyber-crime continues to be a growing concern as criminals continue to find new ways into confidential systems and databases.
The bottomline
The pros and cons of restaurant account based analytics apps are worth considering before investing. For restaurants and manufacturers looking to increase sales, gain data-led insights to optimize their operations, or streamline production innovation, this type of technology might be the answer. However, there is also the expense and specter of security vulnerabilities to consider. In the end, the decision is up to the company to consider their needs and the available resources they possess to make the most informed and profitable choice.
