Which is the single most important ingredient in today’s restaurant business? It’s data.
Surprised? Don’t be. In the face of extreme competition, restaurants, especially quick service restaurants (QSR) (where time is of essence) are increasingly turning to data analytics to reduce costs, increase revenue, and pump up profits. It’s an industry where time is money, where margins are small but volumes, large.
In today’s digital world, electronic transactions have opened the sluicegates for data flow at two levels – the customer and the restaurant; both of which can be used for macro and granular analysis.
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