Benefits of Big Data in Restaurants
The food and beverage industry is no stranger to the use of big data to analyze customer engagement and choices, and successful marketing strategies. Smaller, independent restaurants which are unable to gather sufficient data by themselves frequently rely on external factors to see things in a certain way, such as larger bookings in the holiday season. By analyzing their data larger restaurants can find patterns and trends in their data much more easily.
Big data aids the restaurant world in the following ways:
- Self-Promotion – Big data analysis helps restaurants track the effectiveness of special offers. It also helps in personalizing the customers and tracking their bookings and preferences, thus predicting the effectiveness of an offer in drawing them back to the restaurant. By observing and analyzing customer choices, restaurants can set up loyalty programs which customers can register for. These loyalty programs are largely used for data attribution.
- Improving the Menu – Big data analysis not only helps in tracking the popular menu choices but also the unpopular ones. This can lead to introspection on part of the staff to understand the reason for its unpopularity, which might range from reasons like being too unfamiliar for the regular restaurant-goers in that location to not having enough options in a certain cuisine, which makes people venture elsewhere for more variety in the same, or simply that the restaurant’s expertise lies elsewhere.
- Maintaining Sufficient Stock – The popularity of a certain dish could shoot up during a certain season, causing an increase in consumption of a wine that pairs well with it. People might lean towards different menu options in different seasons. By analyzing trends, big data helps in predicting customer orders, and hence allows the restaurant to stock up sufficiently both on the ingredients and sides for the same.