In this exclusive research, restaurant operators reveal how they are redefining data as a commodity. In surveying a sample of restaurant operators, representative of 10,382 properties, executives reveal that in order to realize the full potential of data, restaurants have been focusing on analytics as a key strategic goal for technology investments.
Upgrades or additions to the technology stack require that restaurants have a holistic view of data. Without appropriate integrations and reporting, siloed nuggets of information will not yield the potential bounty.
This report highlights the potential efficiencies and business growth that can be realized by smart use of data. In order to leverage insights and make them actionable, restaurants must evaluate technology stacks and structure them in an integrated, efficient manner, as each component is a source of valuable data.
Integration will play a vital role in restaurants gaining visibility. Restaurants acknowledge that one of the top benefits of having systems integrated is having a holistic view of the business. As such, restaurants are placing great value on data points — making data itself a key performance indicator. Restaurants can mark progress by how well data is monitored, how it is acted upon — and most importantly — what actions and the results insights ultimately yield.
Key findings include:
• Restaurants with little to no integration of systems are less satisfied with visibility.
• 60% of restaurants say the POS is the top system from which to mine data.
• 43% of restaurants fall into the integration laggards category.
• Increasing sales is the top strategic objective for data strategies for 40% of restaurants.
Having an established data flow will be vital for restaurants to go beyond dashboards and unlock the full capability of available business insights.
*Sponsored by HotSchedules.