As the foodservice industry continues to evolve with digital advancements, the need for leveraging data to inform decision-making is becoming increasingly important. With the introduction of account-based analytics apps, restaurant operations have a new tool to unlock insights into the foodservice market and its related trends. This article will explore the pros and cons of leveraging account-based analytics to gain the most comprehensive insights into the foodservice market.
Account-based analytics apps provide restaurant operators with a comprehensive and in-depth set of data field-specific to the foodservice industry. These apps provide detailed menu data and restaurant technology coverage. With such detailed access to the market trends, restaurant operators are able to effectively scale operations, enhance production innovation and make informed decisions. This allows operators to better cater to their customers’ needs and ensure their restaurant is optimally linked to the current trends.
The pros of account-based analytics apps include the following:
• Sales Prospecting: Account-based analytics apps equip the sales team with data-driven insights which can be used to effectively target specific markets. This increases the efficiency of the sales team by allowing them to leverage data to inform their decision-making.
• marketing to the Foodservice Market: Account-based analytics apps also allow for highly targeted marketing campaigns to generate more leads and conversions. Marketers are made aware of current trends and are better able to create effective campaigns to stimulate brand growth.
• Streamlining Production Innovation: Restaurant operators are also able to utilise these analytics apps to remain up to date on current foodservice market trends and innovation which increases production efficiency. This enhances customer satisfaction by allowing them to access the latest and greatest meals, in the quickest way possible.
• Data Enrichment: Through leveraging account-based analytics, restaurant operators are able to gain more insights and become better informed of general trends. This allows them to use the data to make more informed decisions for their restaurant.
Account-based analytics apps may seem like a one-stop shop for comprehensive market insights, however, there are also potential drawbacks.
• Difficulty in Utilising Data: Utilising data from an analytics app to inform decisions can be difficult and may be time consuming. As such, many restaurant operators are not properly able to leverage insights from this data to inform decisions.
• Cost Considerations: It is also important to consider the cost associated with implementing an analytics app. As these apps can be quite costly, it is important for restaurant operators to decide whether the cost of the app is worth the potential market insights and cost savings from more accurate decision making.
• Lack of Industry Focus: Account-based analytics apps tend to focus on a broader range of sectors and may not be overly specific or highly detailed in terms of foodservice market analysis. As such, restaurant operators may miss out on specific insights and narrow trends.
It is clear that using account-based analytics apps can have a profound impact on how restaurant operators are able to obtain insights into the foodservice market. With the right implementation and data utilisation strategy, restaurant operators have the potential to benefit from cost savings, improved decision making, better targeted marketing activities and enhanced customer experience.
