What is Intelligent Analytics
The Need for Intelligent Analytics
Intelligent Analytics extends support beyond basic reporting by operationalizing data at a new level to increase efficiency across the board. Traditionally, you have relied on multiple applications to provide you with a wide range of reports and dashboards to enable your company to run smoothly. Because this information is spread across multiple applications, it’s often difficult to get a true picture of your own information.
With the speed of changes and various trends in the restaurant industry, the demand to build your own analytics and have immediate insight into data is more vital today than ever. When you collect, integrate, and dig deeper into the data, you can uncover processes where cost savings and better decision making can be achieved
Restaurant Data Analytics
Let's look at some of the ways you can utilize Intelligent Analytics to help optimize your business today.
Let's say your brand introduced a new ad campaign promoting some new items. Your marketing team wants to see if this campaign is effecting traffic and ultimately profit in the restaurant. Is it attracting more customers? Are you making more money with the promotion in place?
Seeing traffic and restaurant profit is difficult to view on a regular chart because their scale is very different. Using Intelligent Analytics you can create a chart that shows both traffic and profit before and during a campaign to explore how traffic and sales were effected.Fraud/Theft Analysis
Limiting theft in restaurants is key to a healthy bottom line. Your Fraud/Risk team doesn't have time to comb through thousands of checks each day. With Intelligent Analytics you can get down into check detail easily... Limit down to just cash checks, include ticket open times, discounts, voids, and much more down to individual employees and even do so across time to track potential threats.
Product Mix and Trends
Now you want to see which of your categories are performing well from a sales and profit perspective. Spreadsheets can fall short and traditional graphs can only take two variables into account. With Intelligent Analytics, we can use bubble charts to show multiple factors. We use color for visual separation and size will show how well each item is performing.
Analyze Weather Impacts
Have you ever thought about how weather will impact your sales? Change your product mix? Just about every marketing team across the country has. With our partnership with DarkSky Rosnet delivers extremely robust weather data to our Intelligent Analytics platform allowing very detailed analysis to be performed. A mere 5 degree swing can completely change your bar mix!
Profit Margin Analysis
When measuring profit in Intelligent Analytics, we can use a waterfall graph. This graphs takes total sales and then shows areas of cost represented graphically to arrive at total profit for a specific section of your menu or a specific way that the food was sent out.
Restaurant Data Visualizations
Why is it important to enhance the visualization of your Restaurant Data?
Data visualization is a general term that describes any effort to help people understand the significance of data by placing it in a visual context. Patterns, trends and correlations that might go undetected in text-based data can be exposed and recognized easier with data visualizations.
Let's look at the these charts:
Even though both charts say the same thing, Figure A is much easier to consume.
With the introduction of color, your eye is quickly taken to the daypart and category that is driving the difference in your sales trends.
Size can be another great indicator to establish differences. When we add size to a bubble chart it combines a total of 4 axis of information.