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Restaurant Above Store Reporting, Business Intelligence, Business Analytics - Aren’t they all the same?

Posted by Chuck

Restaurant organizations are increasingly turning to data to help manage their operations more effectively, improve marketing, drive revenues, increase profit margins, ensure competitiveness and grow their businesses. Unfortunately, today, the most widely implemented solutions aren’t Business Intelligence (BI) or Business Analytics (BA) solutions. No, today, the vast majority of restaurant companies rely on reports generated by the very systems used to operate (POS, BOH, etc.), their businesses.

Why? In my humble opinion, there’s a lot of confusion around terms being used to describe what any restaurant company may be receiving when it comes to their reporting. There’s Above Store Reporting (ASR), BI and BA to name a few. While they each provide a means to an end, that end is very different in each case.

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Topics: Restaurant Data Warehouse, Restaurant Custom Reporting

Restaurant Data Analytics - What Should You Expect to Pay?

Posted by Leslie

How much does it cost? That’s the question that inevitably comes up whenever I’m talking with a restaurant executive about the data analytic services Mirus provides. Sometimes the timing of the question is right on; other times it’s a bit premature.

If I were selling pens or another commodity the price question wouldn’t be that big of a deal. A pen is a pen. You can touch it, you know what it does, how to use it and why you need it. Business Intelligence (BI) Software as a Service (SaaS) solutions, while not new to the restaurant industry (we’ve been around for more than 17 years), are not so straightforward. The benefits and use cases of these solutions are different depending on who you talk to.

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Topics: Restaurant Data Warehouse, Restaurant Custom Reporting

POS Reporting VS Above Store Reporting

Posted by Mirus

In the Beginning

All restaurants, big or small, depend on a Point of Sale (POS) system to keep track of their business financials. A POS system can generate reports based on sales and customer information and trends that allow the restaurant operators to examine sales data along different thresholds and create promotions based on popular items or slower day parts. POS systems provide useful information to executives as their restaurant business develops.

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Topics: Restaurant Data Warehouse, Restaurant Operations, Restaurant Performance

How Can Restaurants Benefit From API's?

Posted by Leslie

Can We Talk

Restaurants today are about more than just food and hospitality. Technology has become a major factor, both customer facing and behind the scenes. Restaurant chains are being more efficiently run with the help of numerous systems from Point of Sale, Back of House, Labor Scheduling, Business Intelligence, Guest Loyalty and the list goes on. Each system holds valuable information that becomes exponentially more valuable when combined with other data. In order to take advantage of that value, restaurant IT executives are continuously faced with the challenge of making these restaurant systems talk to one another. Unfortunately, it's not that simple. Getting data out of some of these systems can be pretty challenging. However, the push is being made more and more for technology companies to "open up" access. Enter the API.

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Topics: Restaurant Data Warehouse, Restaurant IT

How Restaurant Customer Data Can Make You a Better Marketer

Posted by Leslie

As a restaurant marketer your job is to tell a compelling story about your brand that makes people want to come in and spend time and money at your restaurant. You've got two choices when it comes to writing that story: Fiction or Non-Fiction.

You can make-up all the facts and paint a picture of who you think your customers are, why they come to your restaurant and what they purchase OR you can look at the actual facts, really get to know your customers, learn why they come in, see trends in what they purchase and build a highly profitable marketing campaign around your loyal fans who will get excited and hopefully sing your praises on social media. This is where customer data comes in.

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Topics: Restaurant Data Warehouse, Restaurant Marketing

The Importance of Linking Restaurant Data

Posted by Leslie

Executives running multi-unit restaurants use a number of different systems to keep track of the health of their business. Many times I've talked with restaurant executives that are looking for one system that handles it all. Unfortunately, that doesn't exist. Different systems are really good at different things.

Point of Sale systems are great at capturing transactional details, Back of House Systems are great at capturing things like inventory and Business Intelligence (BI) systems are great at pulling it all together so you can analyze the overall health of your restaurant company. But what information should you be pulling together and why is it important?

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Topics: Restaurant Data Warehouse, Restaurant IT

Restaurant Performance Management - Comparing Alternatives

Posted by Dave

This is the third entry in a series of blogs designed to evaluate the pros and cons of two approaches to restaurant performance management.  In the previous entries we defined the terms Above Store Reporting and Enterprise Data Warehousing (EDW).

Both methods are appropriate for restaurant companies, and the best fit for any individual company depends on that organization’s culture and how much they drive the business based on data.

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Topics: Restaurant Data Warehouse

Leveraging Your Restaurant Data: The Information Learning Curve

Posted by Mirus

 

The Power of Information Leverage
In the restaurant business, we have tools for accelerating growth in Earnings Per Share (EPS). There are different kinds of leverage. Two of the most common being financial and operational.

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Topics: Restaurant Data Warehouse

5 Reasons Restaurants Need A Data Mining Solution

Posted by Mirus Team

 
Whether you own one restaurant or 100, there's no eluding the fact that you have a lot of data coming from various systems.
 
One system that you may not have hooked up is data mining software to complete a more in depth analysis of operations. Let's face it, margins are tight and they always will be as long as you are in the restaurant industry.
 
The extra expense of investing in data mining software may not be a need but those who currently use some form of data mining software to analyze their operations would most assuredly argue otherwise. There's a hurdle that the C-Suite restaurant executives need to attempt to get over in regards to data mining software and that hurdle is words like data, analysis, software, consolidation, BPM (business performance measurement)... etc. do not solely relate to their IT department.
 
They also relate to operations, marketing and finance. Those departments need data mining software for a variety of reasons but most importantly, they need the software to help grow your business and discover outliers positively or negatively affecting your company.
 
Needless to say, there are plenty more than 5 reasons why you need data mining software but through research and experience these are the top 5 that will without a doubt resonate most.
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Topics: Restaurant Data Warehouse

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