how do restaurants calculate the prices of each dish? Do they accurately do it or just a rough estimate?
In: Economics
I work part-time as a bartender at a large chain of pubs, but my day job is in Business Intelligence. You’d be amazed at the data that can be gathered.
The overall cost of food is calculated to multiple decimal places; the ingredients (including seasonal pricing changes), the average time it takes to prep and cook and clean up after and the associated cost of wages, average spend and popularity of dishes through the year, average number and type of drinks served with associated dishes, the list of variables is endless.
For example, a dish that sells well but takes a lot of prep time might be less preferable to a dish that doesn’t sell as well but can be microwaved, as you save on the cost of wages for the kitchen staff.
How much can be done with this is only limited by how much a company wants to spend on BI and how clever your BI Analyst is.
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