Interactive Workshop: Identifying Restaurant Technology KPIs (October 14, 11am ET)
What a lively and insightful workshop! We all knew that key performance indicators (KPIs), are difficult to measure across the restaurant industry due to their varying definitions as well as the disparities among restaurant categories, size and structure.
This interactive workshop, powered by Restaurant Technology Network stars Joe Tenczar, Co-Founder, Restaurant CIOs; Phil Crawford, CTO, CKE Restaurants; Angela Diffly, RTN Co-Founder; and Patrick Dunphy, RTN CIO brainstormed KPI categories and concepts, as a kickoff for RTN’s newest workgroup, designed to identify, collect and catalog KPIs for all restaurants.
As the workshop started, Tenczar and Crawford noted the importance of identifying goals. For instance, are you comparing KPIs to history? Or are you comparing KPIs to where you want to be in the future? Or both? Both leaders agreed that measuring speed of service and transactions is table stakes, but that it is always important ot imagine what future KPIs will be relevant. The experience of the past year has shown that the game can change quickly.
Dunphy facilitated small-group discussion and brainstorming in two rounds, helping participants hone in on the most important KPIs. Here are some of the KPIs identified as potential priorities:
- Measuring happiness of customers and employees using facial recognition
- Minutes saved per customer (for a better, quicker experience)
- Which channels are producing the most tickets/revenue
- What is your total system availability?
- Order accuracy and consistency (beyond guest complaints)
- Employee satisfaction with culture
- Loss-prevention measures
- Customer acquisition cost, lifetime value, and frequency
- Kitchen efficiencies (time on check, time in the kitchen, availability of menu items)
- Employee satisfaction and engagement (use of available technology tools)
- Through-put through third party (broken down by region)
To learn more about Restaurant KPIs and other exciting RTN workgroup initiatives, visit Restaurant Technology Network.