Menu Analytics For Restaurant Industry
Menu Items Frequently Bought Together
Association rule mining is one of the most popular data mining techniques which can be defined as extracting the interesting correlation and relation among a large volume of transactions. Restaurant POS applications generate a huge amount of operational and behavioural data. Applying association rule mining in restaurant's menu can unearth the hidden knowledge from these data.
Revenue by Menu position
Revenue by menu position gives the first level insight on which part of the menu is performing well in terms of revenue. Based on this insight the operations team can plan for the right inventory to be purchased and it also gives the insights to sales and marketing teams for planning promotions.
Cost Product Sold by Menu Position
Revenue by menu position gives the first level insight on which part of the menu is more cost to the restaurant. This metric when combined with the revenue by menu position give you the insight "Is Your Fastest Selling Dish is also the Highest Food Cost Item?".
Margin by Menu Position
This gives you the high-level insights in the absolute numbers on the earnings on the menu comparing to the costs.
Margin Ratio(%) by Menu Position
This gives you the high-level insights on the ratio of earnings on the menu comparing to the costs.
Number of Orders by Menu Position
Shows a total number of orders during a specified period and comparing to previous periods. In general, its aggregated by month, but it can also be shown by week, quarter, year. This gives a good insight on which menu items are selling more in which days/weeks/months of a year.
Number of Customers by Menu Position
Shows a total number of customers during a specified period and comparing to previous periods. In general, its aggregated by month, but it can also be shown by week, quarter, year. This insight is presented along with a number of orders by menu position insight.
