In this, the final in our series on the Acceleration Platform, we’re exploring the all-important aspects of AI and data science. Those in the food and beverage industry are leaning heavily into this technology that can dictate future trends and prospects. At EMERGING, our operating companies use AI and data science to develop evidence-based observations and automation that enhance the bottom line.
Those who have been slow to adopt this trending technology are missing out on data-driven decisions that enhance their bottom line. Here, we’ll explore how data is impacting Emerging’s Acceleration Platform, helping companies expand and differentiate.
Finding Data
Data is everywhere. Today, the problem isn’t finding it but cleaning it up and making it useful. Buyers Edge Platform, a software and analytics company, does just that, providing data-driven insights that help operators run their businesses more efficiently. By embedding data and AI into their full suite of software offerings, emerging and established brands obtain actionable insights and opportunities for growth.
At the same time, Emerging Concepts benchmarks a company’s growth, identifying inconsistencies and presenting opportunities to develop and hit long and short-term goals for real estate expansion. The outcome enables operators to make real-time, data-driven decisions, including those that reduce costs, improve the bottom line, and grow the top line.
The Outcome
A few of the additional benefits include:
- Real-time information regarding prices and profitability.
- A back-office solution that automates operations, including inventory, and manages food costs.
- Enables operators to take advantage of deviation contracts and rebates.
- Scale business efficiently using data science as your key business growth driver.
AI in restaurants is also used in the front of the house, personalizing the guest experience.
Tech Savvy Entrepreneurs
Do you have to be tech-savvy to take advantage of the explosive growth in AI? If you want to run a robotic kitchen, maybe. But AI is about much more. Artificial intelligence mimics human behavior, receiving information and reacting to it much as we do. Machine learning and the use of complex algorithms take this to the next level, learning and making predictions.
Our data scientists use these capabilities to identify target markets based on VIP personas. Scanning the nation or specific regions, they discover the ideal locations, timing, and approaches for expansion. Data, in essence, takes the guesswork out by looking ahead, spotting opportunities, and reducing risks.
Supporting Emerging Brands
As an acceleration platform, our goal is to help brands reach their maximum potential by generating optimal revenue, maximizing table turnover, and reaching their full capacity without compromising the quality of their product or service. Occupancy numbers dictate where there’s room to grow.
A comparative analysis discovers guest spending, reviews, and activity in restaurants in your area or areas with potential, and a deep dive into average guest spend detects upsell capabilities. And the list goes on. Today, the information you can receive from the combined forces of data and AI is limitless.
The Mentorship Role
The amount of information available from data is staggering, yet it’s precisely why many restaurants don’t take advantage of the gifts it brings. That’s where EMERGING comes in.
You gain access to a network of operating companies providing unmatched competitive advantages, including taking advantage of AI and proprietary data. Our emerging brands also obtain unique access to influential industry insiders and working relationships with company founders.
In any industry, the importance of having a good mentor is evident. They help you gain a comprehensive understanding while diverting you from the potholes they encountered along the way. They get you excited about the possibilities, expanding your perception. Much like data and AI, working with them helps you realize your full potential.
Are you ready to take the leap that the next level always demands? To learn more about the possibilities and to explore your potential, contact Emerging Concepts today.
