How Data Analytics Boost Restaurants Chances of SURVIVAL!

There has been a huge demand for restaurants across the world. This means a strong competition & thriving this competition is essential. The Modern Restaurant Management and the National Restaurant Association revealed that around 60,000 new restaurants open every year. But shockingly, 50,000 restaurant locations close their doors each year. 

 

So, What's the answer to survival in this cutthroat restaurant competition? It is Investing in Linkers IoT data-driven solutions, reporting tools, and leveraging the power of restaurant analytics will help restaurants beat the competition. Starting with the basic definition, Restaurant analytics is the concept of analyzing all of the data related to your restaurant business and transforming it into actionable insights with the help of business intelligence software that will ultimately lead to significantly improved efficiency.

 

Why are data-driven automated solutions important?

Hence, 70% of the restaurants close within the first year of operations or within the first 3 to 5 years. So, it’s safe to say that most of the restaurants in the world fail. That's why data analytics is important as it enables better understanding of the money, and it ultimately leads to increased productivity and saving money by understanding the business on a deeper level. The main role of analysis in a restaurant is:

  1.     Understand customers trends

By using real-time data to predict future visitors trends, and visiting hours by gaining access to such information to identify low and peak hours, as a business owner you will be able to formulate better decisions and more successful strategies to enhance the future of your business. 

  1.     Improve marketing strategies

With the right information, gaining the perspective you need to really know your restaurant. Inspiring you to develop innovative business-boosting strategies and running better campaigns and looking at the impact created. 

  1.     Reduce Operational costs

Reducing energy consumption will lead to reducing operational costs while maintaining great performance levels throughout the week. With Linkers Operation Excellence Center OX  you can easily maintain great operational performance by automated trigger maintenance.

 

Data analytics isn't here to replace anything, it sits on top of your existing business intelligence. Restaurant analytics is a priceless tool for any modern and ambitious restaurant. It helps restaurants in becoming more competitive, and of course more profitable.