© DynamicFrameworks - Elite ThemeForest Author.
856-242-3260(USA)+91-7349710440(IND)hello@nu-pie.com
logo
nu-pie
En
  • En
  • De
  • Fr
logo
  • Home
  • About us
  • Services
  • Our blog
  • Contact us
Prev
0
Modern Management Reporting – “Manual to Automation”
02 November 2019
Next
0
Why is Gross Margin Analysis Critical for Business!!!
04 November 2019
November 3, 2019 by divya in Business

Importance of Data collection for Restaurant Business

Data has become a big buzz as it gives a sneak through to insights into customer trends, habits and more. Collecting data might seem like the goal but finding ways to turn Analytics into actionable substance is the actual end game.

Why is data so important for restaurants apart from just knowing how to generate the return on Investment?

Everyday a lot of raw data is collected in the Food Service Industry, and it describes the facts and figures of a business progression every day. Even though each transaction is recorded it is important to learn how to look at each transaction in isolation. Therefore, Restaurant Data Analytics.

Taking you through few quick and real time ways to accelerate your business:

  • Helps in Better Decision Making

Identifying the type of customers that walks into your restaurant, keeping a track of them, the best seller food, the number of orders, etc., is very important to improve the business rather than just trusting intuitions. This helps the organization make better data driven decisions. 

  • Time Management

A supervisor spends hours hunting and managing for data, thus making collection of data and organizing it is very important. Segregating data using KPI’s and drilling it down further to graphs and chart based dashboards help the company save couple of hours together each day.

  • Long Term Benefits

Collecting quality data improves the chances of Survival and sustainability. It influences competitive advantage. Today restaurants can go from serving one customer to managing a crowd. Data can help managers be dynamic about how to tackle situations and manage their restaurants better.

  • Improvement in Sales

While your restaurant is collecting order, payroll, employee, sales and inventory data, there’s a lot of external data being generated outside the restaurant’s network that’s equally important. Relying of reviews, rating, etc. can help improve traffic. It can be anything including text and numbers, pictures, sound, or video.

  • Increase Efficiency

Restaurants can use a lot of different systems which includes POS, Payroll, Reports generation, etc which provide valuable insights as to unlock opportunities and growth. This helps build more data driven restaurants.

  • Technological Tools

Today to solve real problems in the industry around cost and risk management, revenue & profit management, training and workforce development technological tools play an important role. Like say, a manager may know how much to restock on a particular day because the maximum sales were recorded as on that day.

Therefore, data for restaurant and the ability to analyze and act on data is more and more important for the restaurant industry to flourish. This leap of change requires concerns to be able to react quickly to changing demands from customers and environmental conditions. By this i.e., collection of restaurant data, restaurant statistics and restaurant market research there is improvement in data quality, sales mobility and profit maximization.

Know more on restaurant customer data collection and how to analyse restaurant data visit us at https://www.nu-pie.com/ or connect to us for a free consultation on hello@nu-pie.com.

1
Recommend
  • Facebook
  • LinkedIN
Share
Tagged in

SUBSCRIBE FOR ANALYTICS FRIDAY THERAPY

RECENT POSTS

Why is decision tree analysis is vital for your business?
Why is decision tree analysis is vital for your business?
January 22, 2021
Correlation analysis – Is your business using it right?
Correlation analysis – Is your business using it right?
January 15, 2021
Regression Analysis – An understanding and application  
Regression Analysis – An understanding and application  
December 18, 2020

Founded in 2018 we are a global management Decisions Science Company that offers a comprehensive data analytics services and a platform for Invoicing & Accounting services for the retail sector.

Pages

  • Privacy Policy
  • About us
  • Contact us
  • Our blog
  • Home
  • Terms and Conditions
  • Return and Refund Policy
  • pricing

Recent Posts

  • Why is decision tree analysis is vital for your business?
  • Correlation analysis – Is your business using it right?
  • Regression Analysis – An understanding and application  

Address

USA:  312 West, NJ-38 Suite 100, Moorestown, NJ 08057.

856-242-3260

INDIA: Innovation Centre, Koramangala,
Bengaluru, Karnataka 560095.

+91-7349710440
hello@nu-pie.com

© Nu-pie MCS Pvt Ltd - 2020.
logo