Why Restaurant Analytics Matter
Restaurants handle such a massive influx of data, how do they know how to apply any of it to real life? Accurate restaurant analytics are critical for effective business management. Successful ventures should view profits from week to week and between sales periods, also known sales reports.
Then analytics provide reasoning for dips and peaks in revenue; maybe the holiday season boosted sales or employee turnover slowed table turns. When you know the reasons behind sales data fluctuations, you can begin to influence the numbers.
Knowing which dishes sell best, what days you move the most product and where you’re not getting enough ROI determines how you operate moving forward. For example, identify your most popular sales category. Within that section, which items do you sell least? Which day of the week is slowest? Where are you experiencing unnecessarily high food waste?
All these questions help you determine what to change. Perhaps you need to remove options that never sell or increase the price of your sides by a few cents to generate extra income during a hard period. Create sales promotions dedicated to moving more of a certain ingredient before it expires or just because you noticed that customers tend to really like the Thursday special, so maybe the Tuesday crowd will appreciate it too.
Tracking your expenses helps reduce costly investments that don’t receive positive ROI. Glean all the information you need from smart restaurant analytics designed to streamline business and maximize profit.
Check your data regularly. In an industry where trends change in the blink of an eye, you need a POS system that accurately reflects real-time information. eatOS Point of Sale is based in the cloud for fast and efficient use on an intuitive interface. Essentially this means that you can get automatic dashboard updates so every server has access to the same information, like when you run out of a particular ingredient, to improve front- and back-of-house communication.
Restaurant analytics also impact workers’ schedules and menu engineering. Knowing which dishes need help selling can affect where you place them on the page and how many workers to schedule per shift to avoid costly over- or understaffing.
eatOS technology promotes professional growth, too. If you’ve been wondering whether to open a new location, your sales data tells if you’re ready. Once you have multiple venues, comparative reporting features let you remotely access real-time data from any Point of Sale or web browser, permitted you have the security clearance to see those reports.
Scale your business seamlessly with a cloud-based operating system that works safely and remotely. View venue reports side by side to learn which location excels so you can figure out the root cause: Perhaps your target demographic flocks more readily to one spot over another because of where it’s situated, or because the wait staff works better together. Restaurant analytics help you get to the root of your most crucial questions so you can run all your locations with equal efficiency.
Photo courtesy of eatOS
Relevant Restaurant Analytics
With detailed reports, see where your focus is most crucially needed and determine the cause of profits or losses. Thus you can affect meaningful change. Whether a sales channel would benefit from revitalization, you don’t have enough staff members or anything else, restaurant analytics help you determine exactly what you need for your business to thrive.
eatOS technology is here to help your restaurant reach its fullest potential, however that looks. eatOS offers an all-in-one cloud-based eco-system exclusively for restaurants. From Point of Sale to Contactless Ordering, Pay & Order at Table, Kitchen Display System, Customer Facing Display, Online Ordering APP / Website and Workforce Management there is everything to help a restaurant succeed no matter the size. Click Here to Schedule a demo to learn more about how your restaurant can make a smooth transition into the world of restaurant technology made simple.