Data Insights are more important than ever for Food & Beverage Businesses (1)
With a swing towards Digital Systems to combat widespread closures, disruptions and Consumer behaviour changes, Businesses are now able to access more data than ever before. Using this data to understand new trends and make accurate predictions for the future is equally important.
Digital data and technologies that analyse and make sense of data are nothing new. These Systems are however getting ‘smarter’, more accurate and more extensive in how they collect and interpret data.
What are Data Insights?
This term basically refers to digital information. This information could be about behaviours, sales, website traffic, likes, comments, and much more.
Twitter and other social media platforms provide users with data on how their posts are being received, as explained above with records of likes, retweets, impressions and clicks on links. Similarly, CRM Systems collect and interpret data about customers, their behaviours, and their purchasing history which gives businesses an idea of how impactful campaigns, marketing and sales attempts have been.
Why are these insights so important? And why now?
Insights give Businesses an idea of effectiveness and success. Using the example of a Van Sales Business: Insights let them see clearly which of their customers, routes and drivers are most profitable. These Systems also indicate customer trends (how frequently they order, and which products they purchase), giving the Business a greater understanding of each customer, and allowing them to plan their growth appropriately.
They allow Businesses to manage stock levels and products more effectively, manage orders and stay organised, easier.
In the current climate, a large number of restaurants, pubs and foodservice businesses are adopting digital systems. Many of these are doing so for the first time. This means they have access to customer data that wasn’t available, or as easily visible before.
This ease of access combines with the unpredictable flow demand from customers, allowing businesses to predict trends, react accordingly and avoid disruptions along the way.
For more information on how Deliery Management Systems provide better data & analytics, you can see our full document here.
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