The use of big data has brought in revolutionary changes to all types of businesses, and it has happened across the world. In this article, we will learn more about the ways in which the food and beverage business in general and the industry, in particular, could stand benefitted with the use of data.
It could help all the stakeholders, including restaurants, retailers, manufacturers, middlemen, and a host of others. They can make use of big data analytics and make use of it for their businesses. Big data can be applied in food and beverage quite extensively.
Some beginning has already been made, and there are a few organizations such as NetSuite Consultingwho are already on the move and are taking things forward in the right direction.
The canvas for the use of big data in this industry is quite vast, and it can cover production, transportation, logistics, customer services, and other such things that impact the customers directly or indirectly. Not many people may be sure about the impact of big data.
Such people would do well to have a look at IBM computing and how it has been able to make fantastic use of big data. We are sharing seven different methods of various types of big data in the beverage industry & food industry.
1. Delivering on Time
On-time delivery is a big challenge as far as foods and beverages are concerned. Cooked and ready to eat meals have tiny shelf lives, and they should be delivered to the customers within a maximum of 30 to 45 minutes. This is where the role of big data could come in handy.
When we talk about big data, it is not just restricted to the industry in question. For example, the delivery of cooked food could be impacted by traffic, weather, road conditions, and other such external factors. When the restaurant or the food outlet has the right information about such circumstances, it could help.
2. Improved Efficiency In Operations
Big data can also come in handy and could help restaurant Facebook ads and even manufacturers of food products around the world. They and also retailers can be sure that they deliver as efficiently as possible and within the shortest period of time. It will go a long way in improving the overall operational efficiency.
There are real-life situations where big data using high tech gadgets may bring down the waiting time by almost 60 to 70%, and this certainly is big news.
3. Analysis of Sentiments
Customer emotions are also important, and there are many ways they express it. Social media networks are the best place where the food business owners, in general, could look for emotional reactions from customers. The use of various techniques and also data analytic tools could help to categorize customers into different segments.
4. Improvement in Quality
Quality in any food industry is about taste, proper nutrition, good cooking practices, and the overall ambiance and environment.
Maintaining the same feeling over and over again is extremely difficult and challenging, to say the least. There are many factors that could impact the taste, and the use of the right ingredients is just one part of the story. There are other factors, such as storage, season, and other attributes.
5. Personalization
Ask any expert about big data projects, and they will come with the same answer. They will talk about a common objective that aims to provide customer-centric and highly personalized services to the end-users at all points in time.
This is where big data can play a useful role. It could help in understanding the likes and dislikes of customers, the price they are ready to pay, things that they share across friends on social media, and other such things.
6. Analysis of Market Basket
When we talk about market fundamental analysis, we are referring to a technique where there is an attempt to predict reasonably accurately as to the next item that a customer is most likely to buy. This can be predicted only if there are significant data available.
The data could throw more insight into the purchase histories of various consumers. This can help the food & beverage owners to stock better and avoid excess stocking or under-stocking.
7. Improved Customer Services
Optimization of customer services is a continuing and ongoing process, and there cannot be any full stop to it. With customers using many touchpoints like websites, mobile phones, brick and mortar outlets, and even social media, the use of big data could help to identify the needs of the customers across the board and optimize services wherever possible.
Conclusion
To conclude, there is no doubt that technology in general and big data, in particular, could play a significant role in improving the efficiencies of the food and beverage industry.
