Restaurant collects lots of data everyday where most of the restaurant owners don't realize that data is not just numbers, but it is a most powered information which if identified, tracked and optimized, so that can help to improve business performance, align products and services to customer preferences, and aid to gain you profits in restaurant business. Collecting data on when and what customers order is the most important way to analyze your restaurants. It helps to provide them with personalized offers on their favourites and thus stay at the top of the game among your competitors.
Even the smallest restaurants can profit from real-time data collection. Analytics in real-time gives staffing schedules, table turns or menu changes and you’d actually find in real-time and be surprised at how much data your restaurant is generating on a daily basis. You can easily collect that data and visualize in business analytics dashboard to comprehend and use it effectively. The better chance you have to make real-time decisions that will increase the profitability at your restaurants.
What are the menu item brings customers back?
Which servers drive the most repeat business?
What is the real value of a marketing campaign, including repeat customers gained?
What your customer ordered on every visit?
How many times your customer has visited?
Track new versus repeat customer spending and visits?
Understand the cost to acquire a new customer?
By having numerous data on customer preference helps to know the maximum preferred items by the customers and this helps to identify which food items are the most popular in your restaurant and which are the dishes has never ordered so far by the customers. Based on this information, the restaurant owners or managers can make sure to have enough of those food items on busy nights and replace the menu items with most customer preferred one. This changes in the menu list will surely assist you to manage your restaurant inventory better, avoid food wastage and decide which menu items to promote.
When customers walk into the restaurant you can able easily to collect most the information like addresses, phone numbers and email addresses. Sending guests an email with a discount shows your appreciation and make them to build long lasting customer relationships and drive more sales.
Using the data analytics you can able to track the repeat customers, also encourage them to visit the restaurant or lounge during the off hours and offer them discounts only during that time period.
By collecting the data and analyzing it in a better way avoids the numerous wastage of foods at your restaurants. Customer data analytics will visualize to easily tell you which days of the week are busy or slow. This gives you an idea to prepare the food in average and this will also help you to bring sales by preventing wastage even on your worst business nights.
A restaurant that needs to make informed business decisions, the necessary data comes from restaurant point of sale systems (POS), inventory management systems, labour systems, restaurant management software, and a wide variety of other restaurant computer systems. Integrating this data and visualizing it in dashboard gives a knowledge and experience to reap your restaurants towards a success path.