Running the most efficient operation you can is hinged on your data. It can tell you everything from how much of an item to order to how much staff to have on hand during a shift, thereby minimizing wasteful spending. But your ability to make informed predictions of your needs relies on the quality of your historical data – your record of recent weeks, months and years. What if your historical data has gaping holes in it? While the pandemic has spurred the adoption of restaurant technology across the industry, the quality of historical data about a restaurant may still need time to improve. Increasingly, restaurant tech stacks are enabling operators to not only adjust their forecasts based on factors such as weather and local events; they are also allowing brands to factor in historical data from similar brands across the industry. Ingest, for one, is allowing restaurants to benchmark against the performance of similar brands to help them get a more complete picture when their own historical data isn’t up to the task.
The tech tools you have at your disposal to operate more efficiently are critical assets to your business right now. They can ensure you quickly have the figures you need to make decisions about inventory and staffing on short notice, for instance. Restaurant365 suggests you forecast sales using recent weeks as your guide instead of the same period last year, order only what you expect to sell based on those forecasts (and cutting back on orders with suppliers as needed), and use tools to help you stay as close as possible to optimal labor costs.