RESTAURANT ANALYTICS

How can Restaurant Analytics increase revenues? 

  1. Help you to understand your customer:

    • Trip Segmentation helps to understand what kind of meals do customers come to your restaurant for; you might surprise that a large number of your customers maybe buying only one item(solo trip), some maybe on a dinner trip while still others are on a pure drinking binge

    • Visit Patterns different types of customers visit your café at different times of the day; hence, menu differentiation is hence necessary for different day parts to boost your business

    • Understand what your customers like and personalize offers for them

    • Create loyalty strategies

    • Removing slow moving items from your menu

  2. Pricing Strategy - Identify items which are consumed by price sensitive customers and upmarket customers.

  3. Basket Analysis - Which items bought together contribute to maximum sales? Create combinations of such items and offer discounts to drive up sales and productivity.

  4. Feedback Analysis - A famous food chain used advanced analytics to integrate all the channels that they received feedback in (mobile, at location, social) to get a single view of the customer and layered it up with sentiment analysis.

  5. Dashboard for measuring business in real time 

    1. Average Sales per day/per week/per month/per quarter/per annum

    2. Average menu items sold per day/week/month/year

    3. Categories with maximum sales in a particular day/week/month/year

    4. Menu items within larger category heads with maximum and minimum sales

    5. Cost of goods sold for on a daily/weekly/monthly/yearly basis

    6. Cost of raw materials under different heads on a daily/weekly/monthly basis

    7. Percentage of repeat visits of customers on a weekly/monthly/yearly basis

    8. Revenue from each segment of customers- daily/weekly/monthly

    9. Top performing meals

    10. Poor performing meals

    11. Identify peak hours in sales which will help in staffing decisions

Restaurant analytics is a big opportunity to innovate and devise strategies, keeping the customer at the heart of all your decision making. Analytics provides the solution to ensure scalability, efficiency, keys to customer satisfaction and above all, increased revenues.

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