Spreadsheets don’t cover it anymore for business analytics
Simple spreadsheets don’t cover it anymore for business analytics. The operation and management of a restaurant is a complex set of moving parts that can be difficult to track and analyze without a comprehensive solution that gives you the big picture not only in how your employees are behaving but also in how your customers are experiencing your restaurant. Here are the top features in your business analytics solution you need to gain unfiltered insights into your Quick Service Restaurant (QSR) operations.
Video analytics that help you track traffic and behavior
A comprehensive business analytics solution should employ state-of-the-art video surveillance and analytics to help increase profitability in every location while improving compliance with key operating procedures. By comprehensively tracking where people are and what they do in your restaurant, it gives you the opportunity to improve the effectiveness of your marketing and better understand the customer experience.
Identify your customers’ spending patterns
By analyzing point-of-sale transactions using your video surveillance system and analytics package, you can not only serve your current customers better but you can also identify the demographics of your current customers in order to find more customers that are like them.
Understand the impacts of your marketing efforts
By employing video in your business analytics solution, you can better understand the effects of your marketing on your customers and potential customers and receive insights to help improve your marketing efforts in the future.
Get the big picture
Whatever your point-of-sale terminal or system, video analytics can help you improve performance by identifying product trends, pinpointing your QSR’s best selling products by segments and seeing which products sell together.
Understand customer spending
By getting a bird’s eye view of each transaction, you will not only get to know your customers but you’ll gain a better understanding of customer spending, including cash and gift card transactions. With a high-performance video analytics package, transactions can also be tied to specific customers, so you know who is spending in your restaurant, how much they are spending, and what they buy.
Profile your customers
With a comprehensive business analytics solution, you can profile your customers by category to help you know how much of your business is new, repeat customers, or local buyers.
Manage inventory better
Use video analytics to track every delivery and every food item in your QSR, as well as analyzing spending to enhance compliance and negotiate lower costs of goods.
Make better decisions
Because a comprehensive business analytics system does a lot of the work for you, you can spend less time chasing data and more time analyzing your QSR’s business and making decisions based on actionable intelligence.
As a market-focused product manager, Katie is responsible for understanding the specific needs of QSR customers, and translating those needs into solutions with demonstrable value.
Over the past 10 years Katie has successfully served a diverse range of clients in consulting, implementation, and SaaS product management roles for Hitachi Consulting, IBM, and SolarWinds. She earned a dual bachelor’s degree in English and Neuroscience from Duke University.