There is no doubt every business has a lot of data to deal with, whether it’s a big chain of restaurants or a smaller operation. The data is available, but what is critical is how a business collects, sorts and analyzes data. If this is all done in a meaningful pattern, the output from this will result in actionable items for management to implement. Otherwise, the data will be regurgitated in perhaps a different form, but will not provide management with much insight.

To avoid the latter situation, restaurants must adopt enterprise data management software to ensure they are increasing the potential for their business and maximizing profits.

Data is continuously generated, and enterprise data management will help businesses benefit from all this information using a few different methods.

Management of Data

A complete data management software solution will allow an enterprise to orgaEnterprise Data Managementnize and sort data in a way that will make it easy to retrieve the data and use it when needed. A system can help control access to the data ensuring only authorized personnel can access it, protecting private information of employees and clients.

Inventory Control

An enterprise data management system is capable of providing real-time reports which can greatly impact the restaurant business. These reports can highlight inventory items which may be about to run out of stock and ensure they are re-ordered before it becomes a problem for the restaurant staff. Data management software can help pre-empt any inventory shortfalls with automatic reports generated and delivered right to your inbox so you don’t have to remember to login to a system and generate the reports.

Price Control

With variance reporting, a data management system can also highlight if a product’s new cost is significantly different from the previous price. This can spur management into action, requesting explanations from employees placing the orders and from suppliers. If there is an issue, it will be caught and resolved more quickly than it would have been in a traditional accounting system.

Top Selling Items

Data management software can guide management to determine which items on their menu are not just the top selling, but also generate the best margins. This can help the restaurant improve results by promoting the items that are popular and top grossing, rather than those that sell well, but don’t provide a big boost to the bottom-line.

Track Customer Preferences

When a business can track sales via the use of data management software it can evaluate how customers are making their decisions and which items they prefer on your menu. This can help your staff develop menu items which are more likely to be greeted with enthusiasm from customers and help ensure greater success for the restaurant.

Every business needs to harness the strength of information and data collected by the enterprise. Without proper software to achieve this, your data will not provide you value. It would a great loss to let this potential treasure trove of business intelligence lie untapped. To find out the business intelligence of data management software, request a personalized demo of Xformity.