By now, you’re probably sick of the term “Big Data”. To you, it seems like just another thing that’s coming out of Silicon Valley. Every start-up and Fortune 500 company is jumping on board the Big Data wagon, raving about how data analytics is the key to business success.
Since you own or manage a restaurant, you might think that Big Data has nothing to do with you. But believe it or not, you’re already an expert on the power of data…
You just don’t know it yet.
Your Whole Day is Driven By Data
Don’t believe us?
Think about all the different things you do as soon as you walk through the doors of your restaurant. You quickly glanced at transaction reports to see how much you’ve made. You get a sense of what customers are ordering the most, and have your cooks work on developing new foods based on this information.
You even manage stacks of spreadsheets about the cost of food, inventory, and labor – not to mention employee schedules and special customer requests.
All of this information is data – and if you know how to manage it, you can unlock the secrets to a wildly successful restaurant business.
You just need a restaurant business intelligence report to help get you there.
What the Heck is Restaurant Business Intelligence?
It may sound like some sexy new phrase coined within Silicon Valley, but restaurant business intelligence is just another term for the data that helps you run your restaurant better.
When you have direct access to this data, you’re in a position where you can make vital decisions quickly and with confidence. Not sure how many employees to schedule for next week? No problem – just a quick glance at your data will help you predict just how many customers you should expect. Want to know how much you’re spending in labor costs? No biggie; your report can provide you the information you need.
In short, restaurant data gives you the answers to your biggest business questions, so you’ll never have to feel like you’re “guessing” at running your restaurant.
Just a Few Key Ways It Can Help Your Restaurant
Still not sure you should incorporate data into your restaurant business? Wondering if it will even make sense with how you run things? Take a look at a few key ways your restaurant business intelligence report can kick-start your success:
- Manage Your Employee Scheduling Needs: You want to make sure your employees are happy at your restaurant – and that’s not going to happen when you schedule too many servers for a slow night. With restaurant data, you can figure out those nights you’re going to be busy, as well as when your business is going to slow down. That way, you can create more accurate schedules – and happier employees!
- Avoid Blowing the Budget on Labor Costs: If you’re not sure about managing your employees’ schedules, it’s likely that you’re going to schedule too many employees on nights when you’re not making enough money. All this can add up to the perfect storm of excessive labor costs, where you’re simply spending too much out of your bottom line. With restaurant business intelligence, however, you can quickly identify how much you should spend to stay in budget – meaning you’ll get to see that bottom line grow.
- Identify Seasonal Trends: Sure, you may know obvious seasonal trends; if you’re a seafood restaurant in a tourist town, it makes sense that summer’s going to be your best time of the year. But what about the other seasonal trends you might not be aware of? That’s where your restaurant data comes into play. With the data, you’re able to identify when your best seasons are coming up, and when the restaurant might slow down.
- Manage Inventory and Costs: From food and machinery to materials and vendor costs, it’s vital for you to precisely understand how much you’re spending, and on what. But what if you’re spending your money on the wrong products? What if you should be investing your money on something that will bring in more revenue? Your restaurant report can point out how to better manage your inventory and costs, so you can reinvest your profits back into your business.
Restaurant business intelligence opens up a world of opportunity to you and your employees – so there’s only one question you need to ask yourself:
What are you waiting for?