Surprising Things Analytics Can Tell You About Your Restaurant
Data analytics have been used by businesses in various industries around the world for years now, but in the restaurant industry, their use hasn’t been nearly as widespread. There’s a wide variety of information and insights that analytics can provide restaurants, though, so if you’ve been thinking about using the power of data analytics for your restaurant, but aren’t sure exactly what you’ll get out of it, then keep reading. You just might be surprised at what analytics can tell you about your restaurant.
How To Price Your Menu Items
Many restaurant owners find themselves in a quandary when it comes to their menu pricing. Go too high and you risk alienating customers who are used to your prices. Keep them too low and you’re leaving money on the table. The solution lies somewhere in the grey area between the two, and that’s where data analytics can help. Our software can actually show you the price point that will have minimal effect on your loyal customers while improving your bottom line.
What Menu Items To Combine
Data analytics can also show you how best to group your menu items and which items to combine and offer together. Optimizing your menu is a key part of finding success in the restaurant industry, and analytics can help you quickly and efficiently accomplish this.
How Weather Patterns Affects Your Business
Once our software learns your business, it can identify a whole host of things that may have an effect on your business. Major weather patterns are one point that can have an impact on traffic through your door, and data analytics can give you a better understanding of why and how those weather patterns affect your restaurant.
Your Guests’ Patterns
In a busy restaurant, it can be hard to notice every time a guest comes in, or when they’ve been absent for a while. Using data analytics, you can learn about your guests’ frequency and preferences, and detect patterns in their behavior that you could not have otherwise discovered. You’ll also be able to learn how much of your business is really driven by guests who return frequently.
The Real Success of Your Marketing Efforts
Data analytics can also provide you with an accurate analysis of your marketing campaigns or seasonal promotions. You can find out what works and what doesn’t when it comes to promoting your business.
It may seem like the restaurant business is built on instinct and creativity, but there is also plenty of data in your restaurant that’s waiting to be collected and analyzed. If you can balance both aspects—creativity, with the data you need to make decisions—then you may find even greater success.
At Marketing Vitals, our analytics software was built specifically with restaurants in mind. That means there’s no customization necessary for the software to work with your business. So if that sounds like something your restaurant could use, then contact us today and we’ll get you started with a free demo.