Drowning in data? Integrated analytics can be your lifeboat.
The software and systems that serve today’s hospitality industry amass a huge amount of information about how customers behave and how operations perform. It can be a life-saver for business, but it can also hinder progress. Operators and managers feel the pressure to collect as much data as possible, to ensure that they are running their business with data-driven precision. In theory, it makes sense: we should use the information we gather to make smarter, more educated decisions and help correct course. However, in practice, we often feel inundated by information. Data, data everywhere—but not that can be used, or used in time.
The fact is, bringing together data from a range of different systems and platforms is both expensive and impractical. We found through conversations with operators that a huge amount of time and effort is spent preparing KPI reports–often many hours each week. What happens to that data and all the time spent drilling down into it? By the time completed reports can be reviewed, it can be too late to have an impact. The sheer volume of data to comb through makes it tough to gain quick and actionable insights. Plus, the flood of data available makes it difficult to identify new correlations, draw new conclusions and gain valuable insights.
With such a huge manual effort to compile and analyze data, many businesses take the easier route: operating in silos and producing narrow reports. This makes it quicker and easier for teams to get their reporting done, but ignores a major opportunity to have a holistic understanding of the business, and how these teams can work more efficiently as part of the larger organization. Imagine, then, what it would be like to have a true 360-degree view, that isn’t outdated by the time you get to look at it. A picture of your operations that lets you see the impact of your decisions across the board. An understanding based on automated combinations and correlations of data from all of your different systems. You would save a tangible amount of time (and money) and gain more profound insights, with overlaid information revealing previously hidden trends. As a result, you can act quickly, decisively and effectively.
Fourth Analytics provides not only data and insight from our fully-integrated Workforce Management and Purchase-to-Pay and Inventory solutions, but also brings in feeds from a whole raft of integrated systems including:
- Customer sentiment from review sites
- Guest satisfaction scores
- Health and safety
- Weather forecast
- Employee feedback and pulse surveys
- Kitchen management systems
…any many more.
In fact, our library of APIs allows any technology partner to easily connect to the Fourth platform and share data. Which means that you can rapidly enhance the picture you get of your business, clearing the way for smarter, more profitable decisions.
Data can serve as a valuable resource to help business owners, managers, and teams get ahead. By drawing together data from multiple systems into one central place, and automatically correlating data in pre-defined dashboards and reports, the burden of hunting and gathering data is lifted from your teams. This frees them up to focus on delivering outstanding customer experiences, while easily understanding their performance and where improvements can be made.
Get in touch here to see how Fourth solutions can help your business, or learn more about Fourth Analytics below.