Restaurant business

What centralized restaurant business intelligence should look like

The past two years in the restaurant and foodservice industry have taught us valuable lessons about unified strategy and the need to come together as an organization when the landscape suddenly changes. One of the constant challenges has always been to gather relevant information from large volumes of data, turn it into a proposed strategy, and then turn this strategy into action.

This is nothing new, of course. But the importance of centralized business intelligence and best practices across an organization has proven vital in a whole new way. What should it look like in this new era of the restaurant industry as we move forward? What is the role of emerging restoration solutions in this regard? Let’s take a look at some of the highlights.

Listen to the story your data tells you

At a time when agility is needed more than ever as the status quo evolves in the industry, centralized operations and strategy are essential. Data coming in through the point of sale is a critical means by which leaders can make informed and timely decisions about things like:

  • Best Selling Items
  • Successful promotions
  • Sales volumes linked to the time slot
  • Popular combinations
  • Unpopular Items

These elements help tell an important story. Actions informed by this story will be the most effective means to achieve growth goals and objectives.

To do this at all levels, industry leaders rely on cloud technology to connect all sites and concepts in a single environment. From there, they have a higher vantage point of what’s really going on in the business, at the location level. Cloud-based recovery operations unified in this single environment and technology platform reflect the needs of the times in a way that siled and disconnected operations do not. In this, centralized analysis provides the clarity necessary to stay competitive and profitable in a timely manner with a more precise objective.

Invest in winners

One of the most important elements of centralized operations is menu management, which is the cornerstone upon which restaurant and foodservice offerings are best built. The points about centralization and unique data and operational environments are relevant here. But in addition to inclusiveness across every location and concept, expressing this business unit is about getting valuable insights at more granular levels, and even SKU levels, centrally aggregated and above the cloud location.

Such intelligence across locations and concepts helps provide insight into how to adjust menus to maximize returns. This means eliminating the elements that contribute the least, so that your organization can invest in what really works – not only what is popular, but also what offers the greatest margin applicable to all locations, also taking into account more region-specific items. Managing menus above the store in this way helps provide a path to follow for all locations, and with longer turnaround times than is possible with on-premises operations.

Create and recreate the best possible offer

Optimizing an offer is a continuous process. Data from all locations helps provide the path that defines this journey. But once the analytics aspects are in place and decision makers know what the winning factors are, implementing changes to reflect that analytics is the next critical aspect of a more accurate and unified restaurant strategy.

This means that things like price changes, time slot adjustments, new promotions, new combos, and other menu-specific factors applicable to a range of locations must be in effect at the same time. Technologies such as restaurant POS, menu display apps and others play a vital role in presenting new menu information to customers and on-site employees. That way, the technology does the heavy lifting, while the people at the end of the process in all locations can focus on the experience.

How restaurant technology should support the industry in a new era

The emphasis on unity and centralization is an essential success factor here. With the landscape of the industry changing on multiple fronts, there are certainly other areas that executives are aware of and taking action on to prepare for what the near future of the industry is likely to be like.

For more information on how Infor works with industry companies and the technology involved, see our restaurant and foodservice industry page – here.

About Infor

Infor is a global leader in industry-specific enterprise cloud software. Infor’s business-critical applications and services are designed to deliver lasting business benefits with security and faster return on investment. We are obsessed with delivering successful business results for clients. More than 60,000 organizations in more than 175 countries rely on Infor’s 17,000 employees to help them achieve their business goals. As a Koch company, our financial strength, ownership structure and long-term vision enable us to foster long-lasting and mutually beneficial relationships with our customers. Visitwww.infor.com.

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