Machine vs Human: Who Predicts Restaurant Sales Better
When I first started developing operational systems in restaurants, I relied heavily on spreadsheets. Excel was revolutionary, and I pushed that program to the max. Spreadsheets were the best way to organize the systems, track numbers, track inventory and do all kinds of operational tasks in the restaurant. But they were dangerous because you could end up with duplicate copies, lost data, corrupt files, etc. So when technology came into the restaurant picture, I quickly adapted my methods and systems into technology – I even developed a restaurant management software! Now we have AI – the machines are doing some incredible work for restaurant owners and making sorting restaurant data so much more efficient.
In this episode of my podcast, The Restaurant Prosperity Formula, I want to introduce you to Branden McRill, the co-founder of 5-Out, a forecasting tool for restaurants. Branden initially made his way into the restaurant business at age 15 parking cars and washing dishes. Later in college found his way back into the business, ultimately dropping out to follow his restaurant passion.
With over 25 years in the industry, Branden has worked with restaurant royalty such as Danny Meyer, David Burke and Marcus Samuelson. Until ultimately after opening over 20 different restaurants for others, Marcus Samuelson said you need to open your own restaurant. And that he did back in 2016. He now owns and operates three restaurants in Philadelphia to include a QSR burger restaurant, an American Beer Hall and a fine dining restaurant.
5-Out predicts what you’re going to sell and when you’re going to sell it to optimize labor and purchasing. Using machine learning, AI and predictive analysis, in just five minutes, 5-Out integrates a wide range of systems you already use, such as point of sale, labor scheduling, purchasing and inventory, weather, social media, ordering, news and events.
He gets it. He understands the importance of having the right and timely numbers to run your restaurant the right way. Tune in to hear our discussion about running restaurants, pick up some useful tips and learn about the potential of synergizing your restaurant data for maximized decision making. And I mean that sincerely.
As two data wonks, Branden and I have a discussion that will help you understand all the factors that predict your restaurant’s sales.
Tune into this episode to hear Branden’s journey in the restaurant industry. and how he came to be a developer of an AI tool for restaurants, providing them with information to protect their business and maximize it at the same time.
Click the podcast player above to listen in, or you can watch the video on YouTube, click here to download the latest episode.
