The pace of technological innovation can be overwhelming at times. It’s easy to be distracted by bright lights and shiny new elements of technology without ever considering its intended purpose. Implementing new technology in your restaurant or franchise requires a plan of action to ensure your goals and return on investment are met. Otherwise, you’re just wasting time and money. Here are some tips on how to implement new business intelligence technology in your business and stay focused on the end-game at the same time.
Decide what kind of adopter you are going to be
There are only two paths to choose from: passive or active. Passive adopters let technology run their business while they stay back and react when necessary. Active adopters make sure every piece of technology in their business has a purpose, and can clearly state that purpose if asked. Deciding between the two is key to finding the right technology for your business. Business intelligence technology is easily adaptable to either road you choose, but it needs to be given a direction first.
Learn the term ‘big data’
Big data allows business owners to have a much more thorough picture of their customers than a simple walk around the dining room during a shift will produce. How many drink from the bar do you sell between 2pm and 5pm? What are the main drinks sold during that time? What night do you sell the most chicken? What about beef? How long does it take a customer who buys a gift card to use it? All of these questions can be answered by utilizing big data. Big data is a key element of business intelligence technology. The technology gathers data from various aspects of the franchise or restaurant and gives leaders a new perspective on their business.
Big data loves social media, too. The average human is spending between 10 and 12 hours per day in front of an electronic device, and nearly six hours per day on a smartphone. This is gold for businesses and restaurants in general. Finding out who is liking your posts on Facebook or following your Twitter account can give you a much better picture of your market than a spreadsheet of sales ever will.
Business intelligence technology requires that its user is attentive. Trends will come and go at a minutes notice. Being able to spot these trends, whether in sales or in service, can be the difference between making rent with no savings and turning a profit from week to week. Business intelligence technology can help you spot weak areas in your menu or staff members who need a refresher course in table-side etiquette.
Integrating business intelligence technology can be tough, especially if you are not comfortable with technology itself. However, the improved reporting and analytic power this technology affords restaurant owners is beyond reproach. It provides an opportunity to stand out and ensure any opportunities that bring change can be taken on with smooth transition. Think big, and business intelligence technology will take your restaurant to new heights.