Are you using big data to its fullest potential?
Big data refers to data sets that are collected and analyzed using computer software to reveal trends or patterns.
Whether or not you are familiar with the term, it is very likely that the cloud-based apps and platforms used in your restaurant are already collecting this information.
So, what are you doing with it? Here are three ways big data can help your restaurant save money.
Reduce your food waste
According to the U.S. Department of Agriculture, 30-40% of food in America goes to waste and a large part of that is coming from the restaurant industry.
Additionally, another analysis done by the Green Restaurant Association found that a single restaurant alone produces roughly 25,000 to 75,000 pounds of food in one year.
This is not only wasteful, but expensive!
By using data collected by your POS, your restaurant can help you easily identify the consumer trends of your customer base. Depending on the style of your restaurant, you can examine weekly, monthly, yearly or even seasonal trends. Doing so can aid in analyzing menu performance to help reduce waste and in turn, increase savings.
Increase ingredient efficiency
Now that you have identified the menu items that perform the best, you know exactly which ingredients are making you money and which are costing you.
This is a good opportunity to innovate new menu items around the cost-efficient ingredients you already know work.
Offering soups, appetizers and sides comprised of ingredients you are already using can help you increase the mileage of every ingredient.
With an ounce of imagination, meats and vegetables can be made into soups, stand alone as creative appetizers, or aid as a complimentary side to accompany other items offered on your menu.
Save on labor costs
Another great way the big data collected by your POS can aid in saving money is by helping you staff more efficiently.
By analyzing the data, you can not only identify your busiest days and seasons, but which employees are quickest, make the most sales and up-sells.
Using this information, you can better understand when to schedule, how to schedule and who to schedule.
While these are just a few examples of ways you can use big data to help you save money, the possibilities of this information are only limited to your imagination.
So, if you aren’t already doing so, use this information to empower you to find ways to save money and make money.Three Ways Big Data Can Help Your Restaurant Save Money Click To Tweet