FastCasual has published “How Big Data is Revolutionizing the Restaurant Industry.” The guide, written by Robin Arnfield, is sponsored by GoodData and can be downloaded here.
Although “big data” seems complicated, it’s just the process of collecting as much data as possible about customers in order to better serve them. Everyone realizes that understanding analytics is imperative to improving business operations, but few people actually know how to use it.
This guide explains why tapping into the value of big data doesn’t need to be a colossal challenge, and stresses that it’s actually possible to use, collect and combine information from all aspects of the business.
Previously, big data analytics was the domain of major corporations such as Amazon. Now, thanks to advances in software and hardware capability and access to cloud-based services, restaurants of all sizes can use big data software to mine information from their POS, marketing, accounting, inventory and scheduling systems.
Readers of this guide will gain visibility into the range of location-specific customer and restaurant-specific data needed to collect and analyze, as well as the best sources of this data such as social media, loyalty platforms, mobile ordering, marketing, accounting, web statistics, in-store traffic, and POS.
Analyzing this data will help readers better understand customer preferences, improve menus and service, and improve operations providing customers with a better experience. This will ultimately lead to significant improvements in the bottom line.
“An integrated big data system will have a lot of outcome-based benefits for a restaurant chain,” says Jeff Morris, VP of Strategy at GoodData. “You should push the metrics you generate out to all your different location managers or franchise owners, and your franchisees should share data with each other and with the parent group. It’s very important for restaurant operators and the parent group to be able to measure everything and to have deeper-level KPIs beyond the average unit volume of a store.”
Since competition in the restaurant business is at an all-time high, having an effective big data system is critical.
How Big Data is Revolutionizing the Restaurant Industry can be downloaded here.
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