LONDON--(BUSINESS WIRE)--Despite criticism for its nutritional value, the market for fast food continues to grow steadily. The fast working nature of the industry and increasing competition has led vendors to increasingly accept big data and food and beverage data analysis to gain an edge over the competition.
In a blog titled ‘How Fast Food Can Make Use of Big Data and Analytics’, global analytics and advisory firm Quantzig evaluates how the fast food market is using big data to manage their inventory and customers.
Quantzig notes that analytics can “determine the nature of demand of consumers by measuring the frequency and the time the products are demanded. The analysis helps to generate data from the sales of items and then act upon them for providing better quality of products and services to the consumers.”
In terms of financial impact, “It is necessary to evaluate and analyze the impact that the new products such as food items and in-restaurant technologies before there implementing them. By gathering and analyzing data obtained from various sources including public, the analyst will be able to know the consumer behavior pattern on the introduction of a new technology.”
For more insights, get in touch with Quantzig’s analytics solutions experts
There are many ways by which big data analytics will be able to improve the operations of the fast food market. Many restaurants and fast food dealers have already started adopting big data analytics for increasing speed and quality of their service. The analysis will help improve store operations resulting in the reduction of long queues and the average time needed to handle a customer.
Staffing is an important factor for altering employee schedules in accordance with the busiest days and times an individual restaurant experiences. Big data analytics can ensure staffing issues are resolved. Also, it will help the fast food dealers to understand what the customer wants, and identify the best methods to cater to those wants. This will in turn help enhancing customer experience over time.
Read the entire blog here: https://www.quantzig.com/blog/fast-food-can-make-use-big-data-analytics
More information on how analytics is being adopted in the fast food industry and how leading fast food restaurants are achieving success by using big data and food and beverage data analysis, can be found using Quantzig’s resources. These resources are compiled from Quantzig’s team of over 500 analysts with industry expertise.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.