Analytics has proven to be an effective tool when it comes to maximizing sales and eliminating waste but, looking at your restaurant’s raw analytics report can be intimidating. That’s why we’re here to give you a roadmap for 4 simple ways to incorporate analytics into an actionable strategy.
Find Your Most Popular Offerings
If you’re counting leftover inventory to determine how many of each item you sold, you’re doing it wrong! Modern POS systems offer analytics, so take advantage of their software and take a deep dive into the analytics. Once you identify what items your customers are buying the most of you, you can start developing tactics around those items like adjusting the price, building different menu items, or using that item in a bundle to boost the sale of other items.
Reduce Waste
Without analytics, you might not account for waste, theft, or other types of losses when doing inventory. This could lead to confusion and more importantly misrepresenting revenue. With analytics, you get a count of what your store actually sold so you can account for waste properly and take actions to reduce it.
Forecasting Sales
Weather, seasonality, and growth can make predicting future revenue borderline impossible. Utilizing your analytics can help simplify the process. Start by finding your monthly sales for each year. Compare the same months from two or more years and find the change between them to find your year-by-year growth and use that to make predictions for the future.
Finding The Best Sales Day
Restaurants, bars, and other businesses offer deals throughout the week to help boost sales on their less-busy days, and you should be doing it too! Let’s say that Mondays are your worst sales days. Maybe your team takes that knowledge and implements a special promotion for Mondays where you can offer a discounted menu item. Doing this would likely increase your sales for Mondays and make it a more profitable day.
Now that you know how analytics can help your business, it’s time to take action by optimizing your offerings, adding special promotions for slow days of the week, and forecasting sales!
CUSITech provides a single point of contact to manage the planning, surveying, installation, and implementation of these projects with our nationwide skilled W2 technicians, so you can hit go-live dates on time and on budget. Give us a visit today: https://cusitech.com
