In today’s digital era, data underpins decisions, and no more so than in the hospitality industry. But data can often be used to inform even more decisions and go a long way towards helping business growth. Let’s take a look at how data can support your restaurant business.
Improve Operational Efficiency
As a restaurant business, it’s important not to lose money with any flaws in the operational process. Data is vital in avoiding food waste. You can keep data on use-by dates, menu requirements and, of course, unaccounted waste food, which can really eat into profit margins.
Sales
Data can be used to forecast sales based on previous transactions and cover turnover according to Forbes.com. This can give you useful information on which days might be busiest, allowing you to plan what to order from suppliers and how many staff to roster in on that day, therefore maximising the revenue available on that day.
It’s quite possible to analyse data of this type in-house, but a data analysis company such as https://shepper.com/ can be worth its weight in gold in turning data into information.
Menus
You might be surprised to learn that data is key to optimising your menu, but data can show you which meal choices are most popular and which are rarely ordered, allowing you to streamline the menu choices, negotiate harder with suppliers on those popular ingredients and even reduce wasted time in the kitchen if you can plan in advance what’s likely to be ordered most often.
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