The food service and restaurant industry have been undergoing a digital transformation over the past decade. With technology now playing a key role in practically all areas of operations – from back-of-house, to front-of-house, and supplier interactions – restaurant data analytics platforms have become essential to extracting actionable insights and realizing maximum potential.
Available restaurant data analytics platforms vary in capabilities, such as menu engineering and menu changes, market trends insights, and restaurant technology usage reports. This article will provide an overview of what to look for when choosing a restaurant data analytics platform and the various functionalities come with it, summarizing why restaurant data insights are more important than ever and how to use them.
Data Accessibility and Unique Data Fields in a Restaurant Analytics Platform
The first thing to consider when selecting a restaurant analytics platform provider for your business is the data accessibility and the overall quality of data points. For instance, some providers offer a comprehensive suite of data points on menu engineering and menu changes, covering menu items and category popularity to trends on costs and profits.
Moreover, some restaurant analytics platforms have unique data fields like foodservice market insights, which can take into account data about new restaurants opening in an area, as well as pricing and other market trends. With the unique data fields available in a restaurant analytics platform, you can better understand the restaurant market in order to gain deeper insights and make better decisions.
Sales Prospecting and Competitive Intelligence
Using a restaurant data analytics platform to inform sales and gain competitive intelligence is essential for success in the restaurant industry. With the right platform, you can gain insights into which restaurants and operators are most desirable targets, and extend your competition research to include menu engineering and market trends.
For those working in sales and marketing, the data insights from a restaurant analytics platform can be used to target new restaurants in a region, evaluate their offerings, and identify any potential market opportunities. With the right platform, you can gain data-driven insights to inform your sales and marketing strategy and make better decisions.
Find Kitchens and Expand Operations
Today, technology is unlocking new ways of streamlining production. As the restaurant industry continues to shift to a more digital-first landscape, restaurants are rapidly expanding their operations by leveraging insights from reliable restaurant data analytics platforms.
Using advanced analytics, kitchen managers can draw meaningful insights from the data to get a more comprehensive look at their day-to-day operations. Analyzing foot traffic patterns by time-of-day, menu preferences by day-of-the-week, and staffing needs by hour, managers can make more informed decisions to optimize run times, drive up profits, and ensure customer satisfaction.
Data Enrichment and Enhancing Systems with Market Insights
In order to gain a deeper understanding of the market, suppliers need to supplement their existing databases and CRM systems with restaurant data from reliable analytics platforms. With comprehensive data points on market trends, competitors, and restaurant technology usage, suppliers can enhance their customer databases, enrich existing customer records, and make more informed decisions.
Data-driven insights provide a powerful competitive advantage in the restaurant industry. Having access to reliable data is essential for staying ahead of the competition and increasing market share.
Last ideas
In order to remain competitive, restaurant technology providers must have access to actionable insights and data-driven solutions. Investing in reliable restaurant data analytics platform can provide you with the insights and information needed to succeed in today’s complex and rapidly changing restaurant market.
By understanding the restaurant market in greater detail, decoding competitor strategies, and gaining actionable insights, you can make more informed decisions and unlock greater levels of success.
