“Big Data” is taking the restaurant world by storm, where it is helping owners and executives to understand what works and what doesn’t in their organizations. It also means restaurants are virtually turning into their own data centers as they suddenly find themselves managing a breadth and depth of data never before available. What does this mean for the future of restaurant operations?
It is the “Internet of Things” (IoT) that is driving this data revolution. Specifically, all those “things” – smart, Internet-connected devices ranging from wireless temperature sensors and probes to point-of-sale (POS) terminals – can continuously collect valuable information and communicate seamlessly with both restaurant workers and executives in the back office or headquarters, all via any Web-enabled device.Use of such IoT devices is skyrocketing. Market analysts at IDC have predicted that the global IoT market will more than double to $1.3 trillion by 2019. By 2020, they estimate the IoT will include as many as 50 billion endpoints worldwide.i The information produced by those devices can then be parsed and analyzed by restaurants ready to undertake this task.
For example, based upon the sensors placed in the store and the data that they gather, it helps restaurants to become that much more efficient in their overall operation.
But how? And how can restaurant operations take advantage of the benefits of data-rich decision-making? This paper will answer those questions.