A sales forecasting tool can help businesses plan appropriately for the future by accurately predicting sales and employing sufficient resources to fulfill demands, allowing managers to focus on increasing revenue.

In the food service industry, owners and operators need to accurately forecast business for every aspect of their operation. This includes keeping track of how many employees to have on hand at a given time on any given day, exact quantities of perishable food to order so that resources are not wasted and operating hours (it is definitely not an optimum use of your resources if you open at 9 am, but don’t have any customers till brunch time).

Sales Forecasting Tool

To help maintain and grow your restaurant’s business, you need to use tools that will help improve operations. A critical aspect for increased growth is to efficiently use your resources. This can be achieved by improving your sales forecast, as it will allow you to predict the resources you need to utilize in order to provide an excellent dining experience. Accurate sales forecasting can guide you to only employ the resources you need, neither too much nor too little, improving your restaurant’s efficiency and profitability.

Countless Variables

Predicting sales in any business, let alone a restaurant, is not a simple task. Long gone are the days when business owners would solely rely on their past revenue to predict future sales. You can still use this simplistic strategy, but your forecast will be far from accurate and you will lose out to the competition, which is nowadays using software to help them with this basic task.

The use of software is quite necessary as there are a myriad of variables that can be taken into account for your forecasts. The more variables you can incorporate in your formula, the better your forecast should be and the only method to take into account such a large number of variables is to use the computing power made possible by technological advancements.

Software Features

Using online software can help your restaurant save money by using affordable applications that can take the guesswork out of your sales forecasting. The software can incorporate a huge number of variables, some that you may not even think about when trying to make a forecast. The eRestaurant application permits you to include factors such as a restaurant’s square footage, location, opening hours, parking spaces, publicity undertaken by the restaurant and other similar attributes, to provide the best forecasts.

These predictions are significantly improved because the application’s algorithms also take into account previous years’ results, weather pattern, seasonality, current events held at the restaurant, corporate reservations and more when computing its calculations. This type of process can help provide a unique and more accurate prediction for each restaurant.

Another important feature of this application is the easy-to-use interface that has an intuitive feel. The software can run complicated calculations in the background, but the graphical user interface (GUI) does not have to reflect that level of complexity. The application has intuitive functions that will let you feel comfortable and allow you to play around with the forecasting options to set the settings that best fit your restaurant’s circumstances.

Benefits

Using an online application is an affordable option and provides your restaurant with a powerful mechanism to help your restaurant never be short on critical inventory. This will help ensure your diners are never told an item on the menu is not available due to a lack of ingredients, which can lead to a decrease in your loyal customer base.

The software can also update forecasts in short increments (every fifteen minutes) and this feature can help you plan what items to prep and provide an updated task list that can help run operations smoothly every day.

Overall, forecasting applications in the food industry can help eliminate wasted resources, especially by helping you order the right quantities of perishable food and will improve the restaurant’s efficiency and customer service.