Why 2018 Will be the Year of Big Data for Restaurants
Has your restaurant embraced the power of big data yet?
If so, you probably see your management staff checking analytics reports on a weekly basis. Maybe you’ve already. implemented menu changes, or pricing adjustments, based on what your data is telling you.
If your restaurant hasn’t yet made the leap into the world of big data, you probably already know that you’re missing out on some serious insight into how to make your restaurant even more successful.
2018 is your year to put an end to that. Here’s why.
If you continue to wait to embrace big data, you’ll be at a competitive disadvantage.
For the past several years, restaurants of all types, from fast-casual to fine dining, have been incorporating analytics programs, mobile apps, and data-gathering software into their operations – and that adoption rate is only increasing.
Since that adoption is still not universal, restaurants that adopt these data-gathering and analyzing methods in 2018 still have a chance to gain an advantage over others in their field.
Waiting much longer, however, could end up putting your restaurant at an actual disadvantage compared to others. Industry experts, including Restaurant Business and Technomic, are forecasting that data’s role in helping restaurants set their brands apart will only increase.
By starting your search for the right data analytics solution now, you’ll be able to roll it out early in 2018 and start seeing how data can improve your bottom line – right away.
Customers are expecting more online options and more personalization than ever, especially in the fast casual and casual dining arenas.
With the fast casual chain CaliBurger experimenting with AI and facial recognition ordering kiosks, it’s becoming clear that personalization is the way of the future.
And unless you have a waitstaff member with a photographic memory, there’s no way to do this other than by implementing data analytics software.
By using software solutions that allow you to gather and remember data about individual customers, as well as analyze large collections of data, your restaurant will be able to give your customers what they want and, what’s more, what they expect.
Changes in minimum wage laws and server compensation may make it more difficult to keep your high-performing staff members.
As states and cities begin changing their minimum wage laws, as well as the benefits and compensation given to servers, restaurants may find themselves competing more than ever to retain good staff.
Since some establishments won’t be able to offer higher wages, or better job perks, they need an alternative to encourage their high-performing staff people to stay. One way to do so is to gamify the workplace. With an app like Marketing Vitals’ IncentivizeMe!, managers can set up contests with rewards for their waitstaff or cashiers. The app captures every participant’s data daily, so participants can log in any time to see how they’re performing.
Big data will have major implications for the restaurant industry in 2018 and beyond. If your company is ready to start reaping the benefits of data analytics, check out our Solutions page to see what Marketing Vitals software can do for you.