To be successful and remain competitive in the ever evolving restaurant industry, restaurant businesses need to stay on top of revenue analysis, inventory control, tracking fraudulent activities, overtime and managing the bottom line. They must measure performance across all of their units as well as learn how they stand up to the competition. So how do they examine all of this information? They compile spreadsheets. Lots and lots of spreadsheets. At least they used to, some 15 or even 20 years ago....

Just about every restaurant enterprise has had to deal with at least a base level of loss. Whether through fraud or frequent overtime, it's inevitable in this industry. Call it the cost of doing business.

Front door and back door loss and abuse of discounts and coupons are a continuing concern for those in the restaurant industry. Needless to say, these losses directly impact the bottom line. Identifying the core problems, creating a proactive plan of action, and a speedy resolution is the only way to put you back on the road to success.

At Mirus Restaurant Solutions, we work with many wonderful clients. At industry events or maybe during our annual user conference, we get to meet with some of them, face-to-face. It's always a good feeling to personally meet someone you have been working with over the phone or email.

Why do your most loyal customer return?

If you can't answer that question, we've got problems that need to be addressed. But no worries, if you want to grow restaurant sales and profit margins you just need to learn who your best customers are. The loyal, frequent visitors better known as your regulars. Targeting regulars can increase a restaurant’s revenues, so accurately identifying and then catering to them is essential to boosting sales.

The Millennials, born in the two decades prior to 2000, are the largest generation in history. They have comparatively plump wallets now and their buying power will explode in years to come. Accenture reports that American Millennial shoppers spend $600 billion each year; by 2020, it will swell to $1.4 trillion annually and represent almost one third of total retail sales. From here on, every day that you don’t put Millennials first, you’re losing customers. How do you market to them? How do you capture your share of their spending? How do you ensure they convert into repeat customers? It’s more than just serving food at a reasonable price.

If you read the previous entry on ETL basics, you may be thinking "Another blog about ETL? Why?" Good question.

What's with all the mumbo jumbo surrounding new tech terminology and why do we care? Truth be told, we don't. Chances are, you can probably think of better things to do with your time than research the definitions of ETL and ELT  - much less delve into the differences.

Our Heads Are in the Cloud

In the gospel according to Microsoft, SaaS, “Software as a Service”, is defined as “software deployed as a hosted service and accessed over the Internet.” Hosts, also known as cloud providers, oversee the latest software applications and infrastructure development that allows users to perform at the cutting-edge of business intelligence, where in-depth information translates into a recipe for success.

Jeff Royal, VP of Operations and Product Development at Mirus, explains why ETL matters to you.

ETL is the heart of Business Intelligence software.  It stands for "Extract, Transform, Load" and is a concept that, for most, is shrouded in mystery.  But ETL is at the heart of the rapidly evolving tech industry, and just because you don't understand how it works, doesn't mean your restaurants don't or won't eventually depend on it.

I asked Jeff Royal, VP of Operations and Product Development at Mirus, to demystify ETL a little for those of us who don't fancy ourselves advanced techies.

What is the most cruial thing restaurant operators need to know about how their data is being Extracted, Transformed, and Loaded?

"The Mirus model allows for operators' data in any format to be loaded and combined.  We're data agnostic. Whether it's your POS, drive thru timers, or labor scheduler, we're not brand specific."

What's the most exciting thing going on in the world of ETL right now?

"The ever increasing sources of information and new technologies like a web-based labor scheduler, customer satisfaction and loyalty programs.  Social media is the next big thing."

The bottom line: as restaurant operating systems become more diverse and specialized, ETL is increasingly crucial for streamlining data, and providing "one version of the truth".  As we continue to spearhead Business Intelligence for restaurants, Mirus remains a step ahead with products that anticipate operators' needs and empower decision makers.   

Do you like receiving a gift card in lieu of something more personal?  An increasing number of Americans do.  The continued popularity of gift cards is on the rise with Starbucks reporting a whopping third of total sales from gift cards in the fourth quarter of 2013.  That's $1.4 billion to be exact.   

With that much profit on the line, the risk gift card fraud poses is greater than ever for retailers and restaurants alike.  Suddenly diners don't have to be so sneaky when an inconspicuous card will "dine and dash" for them.  Raising the stakes even higher, thieves continue to devise increasingly sophisticated methods to perform a very simple objective : ripping you off.  Unfortunately, you don't have to look any further than your own employees when it comes to the majority of gift card theft. 

How does severe weather affect the restaurant industry?

In 2005 two major hurricanes hit the gulf coast region, Hurricane Katrina and the stronger Hurricane Rita. They devastated the south coastal states and with that shut down businesses including several restaurants. With similar effects, a string of severe winter storms in 2010 caused several restaurants to lose sales and close for a period of time. How can we take lessons from these past weather events to prepare for future weather incidents?