product

Food Service (Mobile)

Consumer preferences will continue to evolve in 2019 driving a deeper divide between those seeking convenience and those chasing a memorable dining experience

Usman Mahmood

Written by
Usman Mahmood

March 20, 2019

According to the food service industry analysts, consumer preferences will continue to evolve in 2019 driving a deeper divide between those seeking convenience and those chasing a memorable dining experience[1]. In addition, labor acquisition and retention challenges are expected to persist resulting in a growing dependence on technology such as mobile apps, in-store kiosks, tablets for order and inventory management, and automation in kitchens.

The Challenges

Unfortunately for many businesses, advancement in technology does not always lead to advancement in knowledge or convenience. Instead, restaurant managers frequently find themselves dealing with greater complexities from various POS gadgets and systems that result in fragmented and disparate data limiting their collective usefulness and delayed reporting on some of the most crucial aspects of the business.

Moreover, the need to adapt to changing consumer preferences, smarter inventory management and better staff planning remain as key priorities for restaurant owners and operators today.

The Keboola Way

As a restaurant executive, you may already know what you’re selling, when, and where, but do you truly know why?

Who are your best and worst customers?

How well do you fare against your competitors?

What are the key opportunities you’re missing out on?

Keboola enables you to integrate vast sources of structured and unstructured data surrounding your business and helps you uncover real insights based on your competitive landscape, customer behaviour, attitudes, and preferences.

In addition, by streamlining all your data into a single integrated platform, you have the ability to democratize it across all levels of your organization. Data or non-data savvy employees can be empowered with access to timely, clean and consistent data for reporting and in-depth analysis.

Business Value

Businesses eager to leverage data science and analytics often don’t have the resources to risk investing hundreds of thousand of dollars in highly capable and sought after data science teams with uncertain outcomes. Keboola saves you vasts amount of time and money by providing a customized and fully integrated data infrastructure that can then be leveraged by business analysts and data scientists for analytics ranging from simple BI reporting to advanced real-time predictive modelling.

Depending on what stage you are in the data analytics maturity, there are several benefits that can prove invaluable for your business from the get-go.

Stage 1: Foundation

Get the right building blocks in place and develop the infrastructure to kick-start your data journey.

Use Cases: Democratize business data, Food Wastage, In-store foot-traffic, Queue times (Wait time, Fire time, Bump time, etc), Share of Visits, Customer Reviews, Customize Seasonal offerings, Macro-factor analysis (e.g. Weather, Local Events), Automated Push Emails

Stage 2: Testing & Experimentation

Perform experiments and test impact across business functions, e.g. marketing, sales, supply chain, human resources, and finance.

Use Cases: Marketing Campaign Optimization and Automation, Order tracking, Supply Chain optimization, In-store process/people optimization, Basket Analysis, ROI analysis, Review Trackers

Stage 3: Journey Mapping

Leverage organization wide data to streamline customer campaigns and business processes

Use Cases: Segmented CLV and RFM analysis, Customize product offering, Smarter Customer Campaigns, Improve Employee Retention

Stage 4: Advanced Optimization

Adapt to customer and business needs in real-time to maximize efficiencies

Use Cases: Right product to the right customer at the right time, Deliver the freshest product, Loyalty program, Efficient Order handling, Customized menus, Automated Machine Learning.

Final Outcome

With a streamlined business model developed through better technology enablement, restaurant executives can make timely strategic and tactical changes that can maximize profitability and achieve desired business goals.

References:

[1] https://rsmus.com/what-we-do/industries/consumer-products/restaurant/top-trends-in-the-restaurant-industry-to-watch-in-2019.html

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