Ask any restaurant owner, and they will likely say that keeping their business afloat is becoming more challenging yearly. But what if you didn’t have to struggle for survival every year?
That’s the primary benefit of restaurant data garnered from platforms like Fox Metrics. But let’s look at how restaurant data helps with decision-making.
The Benefits of Restaurant Data Analytics Platforms
Restaurant data analytics platforms today are critical for any owner serious about growing their business year after year. The insight and perspective they bring from their vast data can ensure the venue stands up to changing times, flexing trends, and targeting new audiences.
Restaurants worldwide leverage the capabilities of data to:
- Build customer profiles
- Refine restaurant operations
- Optimize table turnovers
- Forecast trends and sales
- Create promotions and retention campaigns.
But you may be wondering how these platforms can help make better decisions. Let’s look at some top reasons restaurant owners can do the best for their business with such data.
How Decision Making With Restaurant Data Helps Restaurant Owners?
Here’s how a data analytics platform can make restaurant decision-making a breeze.
1. Get more insight on how to fill your empty tables.
No restaurant owner likes to see empty tables because all that means is lost revenue. Data analytics can provide insight into why there are vacant spaces, such as a review of the no-shows, peak, and on-peak hours, and other critical factors.
2. Forecast restaurant industry trends and implement them into your business.
The ability to make snap decisions in the lightning-fast restaurant industry can give a restaurant a competitive edge. Data that analytics platforms provide allow owners to identify trends before they become well-known and allow a quick implementation to attract more customers.
3. Create better plans and schedules for your venue.
A robust marketing plan, a palatable staffing schedule, and a streamlined operational strategy can be integral to a successful restaurant. Data analytics facilitate decisions that allow you to easily add these elements into your business, adapting to your unique circumstances.
4. See which items are the most profitable.
Ultimately, it’s all about how much money we’re bringing into the business because that’s why we started a restaurant, right? Data analytics can break down the profitability of your offerings, unveiling costs, sales, prep time, and more.
You’ll be able to make decisions about the future of the products and tweak them accordingly to yield maximum revenue from your menu.
5. Get better feedback by driving a better customer experience.
More guests want complete experiences from their restaurant visits rather than a place only to satisfy their hunger. Data analytics allow you to better understand your customers’ ordering behaviors, preferences, and critical feedback, both positive and negative.
Restaurant owners can consistently review and adapt their venues to provide the best possible customer experience, even breaking it down to an individual level.
Make Better Decisions with Fox Metrics
Fox Metrics provides an intuitive, seamless platform to help make the most rewarding decisions for your restaurant. Get a complete range of data from online activity to offline behavior, delivering the most insight into your venue’s performance.
Get started with the platform today, and supercharge your restaurant’s potential. Let us help you become data-driven and increase sales!