Metrics matter. Understanding which ones you need to care about can have a big effect on your bottom line. It’s up to operational leadership to measure them, monitor them, and make them not only the focus of their annual initiatives – but to make those metrics important for restaurant managers too.
The impact of COVID 19 on our industry will be far-reaching and measured for years to come. What will business look like when we return, how will customers respond, and what level of staffing will you require to serve your customers?
The figures from Fourth, which are taken from the hourly rates for thousands of workers across 4,000 hospitality businesses, come after a period where wage rates remained relatively flat from April to December.
With various software and systems serving today’s hospitality industry, we’re surrounded by a huge amount of data. But with so much data on hand, getting the right information from the right data can be a huge challenge. So how do you make sure you get the information you need, when you need it?
Looking back can be a painful experience as there are always things you could have changed or could have done differently. But hindsight can also arm you for the future – showing what you should do more of and highlighting things you can do differently.
Big Data brings together large amounts of siloed information in one place to make it more meaningful and useful. But it has a different impact on each hospitality worker. Mike Shipley explains how work life gets easier and more efficient for each restaurant persona after data is harnessed.