Do You Want Full Visibility Into the Metrics That Drive Your Business?
Did you know businesses that closely and accurately monitor their key metrics outperform their less informed competitors?
The ability to access your data in real time from any location is critical to making informed decisions quickly.
Having web and mobile reporting tools is increasingly more important at every level of your organization.
These tools provide the ability to drill into critical key performance indicators (KPIs) and other valuable metrics.
Access to real-time and historical data allows you to spot trends in performance and provides increased visibility
into the health of your business.
Immediate access to information allows for improved planning, increased response time, better risk management,
more accurate forecasting, and more efficient scheduling and management of multiple locations.
Through analytics and reporting, work processes benefit from increased productivity, more accurate communication,
accelerated sales and improved quality of service – giving your business a competitive edge.
What gets measured, gets managed.
Which KPIs Should Restaurant Managers Prioritize For Analysis?
To ensure the success and sustained growth of a restaurant, managers must focus on key metrics that
provide critical insights into its operational health. Here are the some of the most crucial metrics that
restaurant managers should prioritize in their analysis:
Net Sales and Number of Transactions:
Understanding the total sales and transaction volume is fundamental for assessing overall success
and customer engagement.
- Understanding the total sales and transaction volume is fundamental for assessing overall success
and customer engagement. - Analyzing transaction data compared to the previous year enables you to view upticks in customer
traffic. This analysis serves as a valuable tool in deciphering the drivers behind net sales growth,
whether it stems from heightened customer visits, price adjustments, or other contributing factors.
Average Check Size:
- Evaluating the daily average check provides insights into transaction values and is vital for
predicting future income. - Understanding the average check will help you to develop strategies to encourage more customer
spend, such as upselling higher margin-items, implementing cross-selling techniques, and even
introducing customer loyalty programs.
Sales per Labor Hour (SPLH) or Productivity:
- Calculating SPLH helps in aligning labor expenses with sales revenue, optimizing staffing levels to
enhance customer service.
Labor Cost:
- Beyond wages, understanding total labor costs, including benefits and related expenses, allows for
effective staffing decisions and resource allocation.
Employee Turnover:
- High employee turnover will create a large expense for a company in costs related to recruitment, training,
and lost productivity. By tracking, a restaurant can identify problem areas and take steps to reduce turnover,
such as improving training, compensation and job opportunities.
Food Cost Percent of Sales:
- Calculating food cost as a percentage of sales reveals the profitability of menu items, aiding in pricing and
ingredient expense optimization.
Actual vs. Theoretical Food Cost:
- Identifying variances between theoretical and actual food costs can be used to improve menu and recipe
management, such as adjusting portion sizes and ingredients. It can also highlight a need for more precise
ordering to reduce excess inventory and waste.
Drive-Thru Speed of Service:
- For quick-service restaurants, measuring the speed of service is crucial for customer satisfaction and loyalty.
Efficient service contributes to improved sales and customer experience.
Customer Satisfaction Score:
- Surveying your customers to determine the percentage of 4- 5 star ratings shows you how satisfied your
customers are and provides opportunities for improving their experience.
Intelligent Edge – Your Competitive Advantage
One of the biggest challenges facing restaurant owners and managers is the time-consuming task of compiling
and analyzing data from multiple sources.
That’s why we developed Intelligent Edge – a powerful, comprehensive Business Intelligence tool designed to revolutionize
how you manage, analyze, track, and interpret your data.
Intelligent Edge automates your data collection and analysis, saving you hours of valuable time so you can focus on
growing your business!
With Intelligent Edge, you’ll see significant improvements in key metrics like revenue, customer satisfaction, inventory
management, and operational efficiency.
By delving into customer behavior, operations, and pricing data, our solution empowers you to make informed decisions
that drive increased revenue and overall financial success.
Make impactful menu decisions by identifying and capitalizing on popular items, maximizing revenue through
data-driven menu adjustments.
Elevate the guest experience and foster customer loyalty by personalizing recommendations, targeting marketing efforts,
and implementing promotions tailored to individual preferences.
Minimize food waste and optimize inventory management by leveraging data analytics to identify areas for waste reduction.
One of the standout features of our tool is its ability to reduce restaurant losses through ticket research and video surveillance.
By analyzing transaction data, you will be able to detect potential fraud or errors and minimize revenue leakage.
You can easily track and analyze your delivery partner’s performance alongside your own business metrics.
Our tool offers real-time, intuitive dashboards that you can access on the go. That way, you can make informed decisions
quickly to drive growth and increase profitability.
Learn more about the powerful capabilities of Intelligent Edge and how it can revolutionize your business!
Request a demo today!
