FOODSERVICE UPDATES
  • Foodservice Updates
  • Trends
    • Commodities
  • Digital Media
  • Technology
  • Safety
  • Corona News
  • Management Tips
  • Free Newsletter
  • Recipes
    • Mains
    • Soups & Sauces
    • Salads
    • Desserts & Snacks
    • Sides
  • Corona Virus Guidance

​Data delivers

2/18/2019

0 Comments

 
order
Having systems to collect and assess data are critical for large businesses — but the payoff is significant for small operations too. Wouldn’t it be helpful to know, for example, the exact price point that maximizes guest demand and profit for a popular product you sell? Or which promotions generate the most interest? In fact, a BARC research report found that businesses that harness data effectively saw their profits increase 8 percent and costs decline 10 percent. The systems can be just as helpful in predicting what’s ahead as assessing what you have already done — predicting that your past guests want to order burritos for takeout on Friday night and might be tempted to tack on some caramel flan if you suggest it. Or predicting where you should place a promotion on your website, based on how visitors navigate through your pages. Finally, in an age when information breaches no longer make front-page news and businesses are blamed less for experiencing a breach and more for how they manage the aftermath of one, having systems in place can help you pinpoint where and when problems happen in different areas of your business so you can respond and address red flags more promptly. If your data management practices need a boost, take stock of your needs. An Entrepreneur report advises you determine which five or six pieces of information are most critical to the success of your business. Choose technology that addresses those critical needs and determine whether the cost can save time and money, in addition to generating more revenue.
0 Comments



Leave a Reply.

    Subscribe to our newsletter

    Picture
    Picture
    Picture
    Picture

    Archives

    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018

    RSS Feed

    Categories

    All
    5G
    Accounting
    Ai
    App
    Automate
    Blockchain
    Carry Out
    Cashless
    Communication
    Composting
    Credit Card
    Crops
    Customization
    Cyber-threats
    Data
    Delivery
    Digital
    Drive-thru
    Email
    Encryption
    Face-recognition
    Food-safety
    Forecast
    Fraud
    Ghost-kitchen
    Gift-cards
    Gmofoods
    Gps
    Hiring
    Internet
    Inventory
    Kiosk
    Labels
    Labor
    Marketing
    Menu
    Mobileordering
    Mobile-ordering
    Mobileorderingb02c87f4a0
    Network
    Ordering
    Payables
    Payment
    Pos
    Reservations
    Robots
    Safety
    Scheduling
    Security
    Socialdistance
    Special-offers
    Staff
    Takeout
    Take-out
    Technology
    Touchless
    Uv-light
    Video
    Virtual
    Voice
    Waste
    Website
    Wifi
    Wi-fi

Get our Free Newsletter
Team Four Foodservice
​Recipes
Corona Virus Resources
Value 4
Quarterly Outlook
​Palette Foodservice
​
Foodservice CEO
© 2021 Team Four Foodservice
  • Foodservice Updates
  • Trends
    • Commodities
  • Digital Media
  • Technology
  • Safety
  • Corona News
  • Management Tips
  • Free Newsletter
  • Recipes
    • Mains
    • Soups & Sauces
    • Salads
    • Desserts & Snacks
    • Sides
  • Corona Virus Guidance