Big data is now a big deal for everyone
People seem to have been talking about big data for years, but it’s striking how few are using it to its full potential. If you like the idea of understanding your business more deeply, but have been put off by the prospect of installing new IT systems, employing specialist data analysts or a massive project, it’s time to think again. Big data analytics is now available in a matter of weeks, and for less than you might think.
The fact is that we can no longer run a hospitality business on gut feel and last week’s sales figures. The smartest operators know exactly what’s going on in the kitchen, in the dining room and in the detail of the numbers. By using a huge range of data, from ePos to bookings, from kitchen management systems to payroll, from social media feedback to weather forecasts, they dig deep into their business and their customers’ behaviour. The insight they extract enables them to change their menus, adjust their pricing, ramp up promotions, review their suppliers, reallocate their staff and so on.
And while the new generation of big data analytics is immensely powerful, it’s also amazingly accessible. Big data is now a practical tool for everyone in the business, from senior executives to site managers. By combining the speed and capacity of cloud computing with simple interfaces and interactive dashboards, it provides near-instant answers to important questions. It deals with everyday decisions automatically, freeing up time for managers to handle subtler issues. And by presenting information on phones and tablets, it also allows staff to spend less time in the office and more on the floor, where they can really make a difference to service and sales performance.
With easy access to the data that matters, site managers can make adjustments just as easily as head office staff. Pricing, offers, inventory, staffing, kitchen rotas and more become powerful tools that are quick and easy to deploy across the business or in individual circumstances. And possibly most importantly, harnessing big data can have a huge impact on your bottom line.
Find out more about big data for the hospitality industry by downloading our white paper.