As a restaurant owner today, you are most likely juggling a variety of processes, platforms and systems- from loyalty programs, to online ordering, scheduling, reporting, and accounting to name a few. Since all consumers expect a consistent journey from the beginning to the end of the sales process, integrating your systems is the pathway to success.
Restaurants today need to be Big Data driven on which products to sell, the cost of products, how to market, and who to market to. Many Cloud POS solutions offer businesses the opportunity to use Big Data efficiently through various POS integrations.
The benefits of utilizing Big Data to maximize your business are vast and plentiful. Some of the major benefits are:
- Reduction of Costs
- Studying Data in Real Time
- Understanding your Customer
- Analyzing Market Trends
- Controlling Brand Reputation
The primary benefit of a Cloud POS solution is the accessibility of the data via the API. Integration partners can be utilized for an out of the box solution, or customers can consume data via the API into their own data warehouse. Data available via the API generates in real-time, which can allow for timely business decisions, providing guest’s the ultimate experience.
Eliminate waste by understanding which menu items are popular, and stock your inventory accordingly.
Examining Your Labor
Based on sales trends, and peak hours, managers and business owners can now evaluate the best times to add or cut labor.
Analyzing Guest Trends
What is driving your guests to eat at your establishment? What are your peak times? Which elements of your loyalty program are they most enjoying? How well did your coupon or promotion go over? Are diners giving you positive reviews on your social media platforms? Using Big Data, you can now make the most of your marketing dollars to increase guest satisfaction and guarantee a positive dining experience.
Maximize Your Menu
Examine the Big Data provided to you through your integration partners and maximize your menu offerings based on which dishes were popular amongst guests, and which weren’t. This will also result in cost savings amongst you inventory.
Motivate Your Staff
After examining your menu and discovering which items performed well, and which didn’t, this information can be used to motivate your staff. Take a closer look at areas on your menu that are easy to upsell or add on, such as alcohol, dessert, or appetizers, and create a content amongst your employees. The friendly competition will encourage your staff and increase your profit at the same time!
Utilizing Big Data grants restaurant owners and business owners alike the upper hand amongst their competition. Imperative information can now be captured and analyzed quickly and efficiently to enhance business making decisions. Big Data can be used to outperform, and outlast others in the industry, and is now most commonly at the heart of business strategies, product roadmaps, and innovations!
Check with your POS provider to learn more on how to leverage Big Data to maximize your operation!