Analyzing product data for restaurants
The restaurant industry is a highly fragmented market with an enormous variety of products and services available to consumers. As a result, it can be difficult for restaurateurs to understand the data they need to drive meaningful innovation in their businesses.
This section introduces several different ways that data can be used as a tool for innovation within the restaurant industry, including predicting food item success, predicting competitor performance, new profile discovery, and more.
Predicting how food items are likely to perform
One big way to use data for restaurant innovation is to predict how food items will perform in-market. By analyzing the performance of food items in the restaurant industry at large, restaurateurs can identify which food items are likely to be most popular with consumers. This information can then be used to inform business decisions about menu items, pricing, and marketing campaigns.
Traditionally...
