Business Intelligence in the restaurant industry seems like an extravagant piece of software for an industry with employees who rarely use computers. However, business intelligence impacts more than customer service centers and robotics plants. Even if you run a small restaurant, the right business intelligence software helps save you a surprising amount of funds. More importantly, BI for restaurants can help your business grow. Whether you want to analyze customer sentiment and product performance, reduce waste behind the scenes, or simply improve your ability to catch opportunities as they arise, BI drastically improves your results.
Predict Customer Desires
Although business intelligence isn’t a crystal ball, BI for restaurants can help you spot and analyze trends as they develop. By offering options that meet new diets or cater to popular lifestyles, you can appeal to more customers and establish your cuisine expertise. In addition to monitoring fads outside of your business, BI also tells you exactly which dishes from your menu are most popular. You can see which dishes are most profitable, too. By comparing this data, you may be able to find more rewarding new menu item that is similar to both the most popular and most profitable items.
Improve Resource Management
Restaurants have a lot of moving parts, and it’s easy for a lot of waste to fall between the moving parts. Are your kitchen staff taking the time to conserve what they can? How often do major errors, like forgetting to secure the freezer or refrigerator, cost you money? Business intelligence for restaurants goes well beyond these obvious wastes, however, and into the minutiae of training and hidden influences. Pay attention to which shifts generate less waste. Then you can move on to the question of why they generate less waste. Is this behavior teachable for members of other shifts? Is it due to fewer customers during those hours and a slower pace in the kitchen? At the very least, the data you gather to answer these questions can prepare you for the first steps in addressing the waste generated by other shifts.
Whether it’s a sudden fad or a chance to maximize profits on your busiest night of the week, BI can give you the tools to jump on the opportunity. It’s easy to overlook small opportunities to increase profits, especially when you’re handling a busy restaurant. By knowing your business numbers, you gain the ability to see the small changes and shifts that signal both opportunities and risks. This data is a powerful tool for winning investors for expansions, too.
A Business intelligence solution gives you the chance to monitor and improve your entire business. Everything from the food you make, to the amount of waste generated by each shift, can be measured and rapidly transformed into actionable information. These three points are only the first of many. Business intelligence is a vital tool for the restaurant industry, especially in today’s competitive market. Of course, even a single one of these benefits could return the cost of your initial investment.