Oracle Hospitality introduces new data science cloud services
Food and beverage operators can optimise every sale with the services.
Empowering food and beverage operators to convert data into profit, Oracle Hospitality announced Data Science Cloud Services. With the new services, food and beverage operators gain the ability to analyse key information such as sales, guest, marketing and staff performance data at unprecedented speed – generating insights that lead directly to actionable measures that improve their top and bottom line.
The suite includes two cloud-driven offerings – Oracle Hospitality Menu Recommendations Cloud Service and Oracle Hospitality Adaptive Forecasts Cloud Service – currently available to operators worldwide, enabling them to improve up-sell and cross-sell opportunities, and optimise operations, respectively.
The new Data Science Cloud Services bring Oracle’s renowned machine learning and data-analytics expertise specifically to the food and beverage industry. This, combined with years of hospitality industry knowledge, delivers quick wins for operators, while saving them the significant expense of having to hire their own analysts or invest in a data processing infrastructure. In addition to Oracle technology, Data Science delivers the support of a team of leading data scientists, database engineers and experienced hospitality consultants.
“Margins are being squeezed in hospitality like never before,” said Mike Webster, senior vice president and general manager, Oracle Hospitality. “Labour and food costs are increasing, and competition for the dining dollar is high. With our Data Science Cloud Services, we are giving our customers the ability to be as profitable as possible, by helping them pinpoint cost-savings in each location while optimizing every single sales opportunity to deliver revenue growth.”
Making Every Sale Count with Oracle Hospitality Menu Recommendations Cloud Service
Oracle Hospitality Menu Recommendations Cloud Service allows food and beverage operators with multiple locations to evaluate their menus and identify enhancements to maximise every sales opportunity. The Data Science service can seek the best possible up-sell or cross-sell options by location or time of day, with recommendations dynamically updating based on customer behavior. Assumptions around cross-sells and up-sells can be analysed, leading to better understanding of guest behavior and preferences.
Speed to value is accelerated, thanks to integration between the Data Science service and the Oracle Hospitality technology platform. Recommendations are available at point-of-service terminals and displayed as localised cross-sells or timed up-sells. Such simplicity enables staff to optimise sales and serve guests without delay or confusion.
Predicting Stock and Labour Needs with Oracle Hospitality Adaptive Forecasts Cloud Service
Oracle Hospitality Adaptive Forecasts lets operators better predict stock and labour needs at every location. The service creates a single forecast by item, location and day part, and factors in weather, events, time of day, day of the week and Net Promoter scores. Such forecasting maintains appropriate levels of inventory and staffing in all business scenarios, helping store managers minimise wasted inventory, lower labour costs and, most importantly, ensure an exceptional guest experience.
For Oracle Hospitality customers, these Advanced Science Cloud Services complement the self-service data access and reporting solutions that are already available, including the InMotion mobile app that provides real-time access to restaurant KPIs and the Reporting and Analytics 9.0 service that was launched in April 2017.
