I believe we’ve all been there. Frantically checking your phone to see whether the sizzling hot biryani has arrived at your door so you can smell it at last!
Nowadays, we don’t just order food online when we’re too busy to prepare it or go out to eat. It has consistently been a part of our way of life.
One of the major players in the Indian startup scene, Zomato is well-known across the country and has expanded internationally over the years, with incursions into several countries, including South Africa, Sri Lanka, Qatar, the UK, the Philippines, and Sri Lanka.
But, How do online food delivery services work?
There are 23 nations where you can use online meal delivery services like Uber Eats, Postmates, Swiggy, and Zomato. For a small cost, it encourages people to order food from restaurants online for delivery. Of course, it also contains details about restaurant menus, typical costs, customer feedback, and surveys.
Data analytics is a powerful tool that enables organizations to examine massive and complicated datasets in order to find hidden patterns, correlations, and insights that can aid in decision-making and operational improvement. Data analytics may improve consumer analytics, forecast maintenance requirements, improve quality control, and find new prospects for product development in the food business. Food businesses may boost productivity, cut waste, boost customer satisfaction, and eventually spur growth and boost their bottom line by utilizing the power of data analytics. Indeed data analytics tools have great potential in business growth. Learn about these top-notch tools by joining the best Data Analytics course in Hyderabad.
How Data Analytics Can Boost the Food Industry’s Profits
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Estimated wait time
Faster delivery times are one of the most important factors that ensure the success of the food delivery app. Without a doubt, it gives your business a competitive advantage.
Common problems with meal delivery applications include
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An early dispatch forces the delivery partner to wait while the food is prepared
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Customer service falls short when the food item loses freshness as a result of a delivery delay
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Trend Prediction
Data analytics helps the food and beverage industry to spot recurring trends and forecast upcoming food fads.
For instance, restaurant sales fell to an all-time low during the first several days of the lockdown. Consumers’ eating and dining habits underwent a significant shift during this time. Data analytics lowers the likelihood of overstocking or understocking by calculating consumption trends. Inventory analytics increase financial results and drastically cut down on loss
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Quality Assurance
Online applications have made it simple for clients to submit reviews and file grievances when necessary. Customer input is essential for the food industry and helps companies better understand how well-liked a given dish is by consumers. Therefore, when a recipe is subpar, it frequently receives low ratings, and reviewing consumer comments can help businesses better understand its quality and target audience.
Example of a food delivery company using data analytics to boost Services
GrubHub, a Chicago-based company, is making great progress and has joined the fight for on-demand food delivery by using big data. In order to meet all meal needs, GrubHub is using analytics to gain insights into Americans’ eating habits. With 5 million users and 30,000 takeaways scattered across 700 cities, GrubHub processes 150,000 orders daily. GrubHub helps hungry clients choose the best meal from the best restaurant by using data from millions of orders on its website. GrubHub’s astounding 49% revenue increase from $170.1 million in 2013 to $253.9 million resulted from data analytics alone.
Revenue Impact
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By 2023, it is expected that the online meal delivery market will produce $323.30 billion in sales.
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The market’s largest segment, Platform-to-Consumer Delivery, is anticipated to generate $208 billion in revenue by 2022.
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Compared globally, China will generate the most income ($155,900.00m in 2022).
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There will probably be 2.6 billion customers in the market for online food delivery by 2027.
Way Forward
In the food and beverage industry, data analytics are used at every production stage, from manufacturing to stocking. As manufacturing becomes more sophisticated, food analytics seems to be the way to go.
If you are keen to learn more about data analytics and big data tools, Learnbay’s rigorous Data Science course in Hyderabad includes IBM Certification to boost your data science and analytics career.
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