Technomic, Restaurant Sciences Partner on Foodservice Intelligence
Joint analysis of food and beverage purchase metrics will yield breakthrough tools
Published in CSP Daily News
CHICAGO& NEWTON, Mass. -- To provide greater visibility into sales trends in restaurants and bars, Technomic Inc. and Restaurant Sciences LLC have partnered to deliver a comprehensive suite of food and beverage tracking services.
"Combining the analytical and consultative expertise of Technomic with the transaction detail developed by Restaurant Sciences will provide powerful tools to both operators and suppliers," said Darren Tristano, executive vice president at Technomic, Chicago. "Our programs will deliver very current and granular point-of-sale (POS) information coupled with deep insights into consumer purchases and behaviors in restaurants and bars. This level of intelligence will provide real momentum and a sharp competitive edge to food and beverage companies' strategic initiatives."
Chuck Ellis, CEO of Restaurant Sciences, said, "This is such a great new partnership for our industry, providing immediate first-ever benefits. We're excited to offer an integrated picture of patron, place and product--a dynamic view of the industry that can range at once from national trends to individual purchases. Together, we offer nearly 50 years of deep analytic and consultative experience, combined with the most cutting-edge Big Data product and transaction standardization, and business intelligence tools. This partnership benefits from hundreds of man-years in combined experience at every level, in every aspect of on-premise food and beverage."
Syndicated and custom programs will involve analysis of key metrics around guest occasions, presented in accessible formats and including actionable insights. Strategic services will include promotional modeling and tracking, as well as price elasticity and competitive positioning analysis and much more. Among the initial programs developed through the partnership are sales tracking tools and resources specific to adult beverage sales in restaurants and bars.
Technomic has tracked the foodservice industry for more than 45 years, and it is a leading research and consulting firm serving the food, beverage and foodservice industries.
Restaurant Sciences is the premier provider of transaction-level data on food and beverage consumption in restaurants, bars and other foodservice outlets. Founded in 2010, Restaurant Sciences analyzes more than $1 billion per month in restaurant and bar sales to fuel a range of analytical tools such as brand performance and Internet marketing efficacy tracking.
Technomic provides clients with the facts, insights and consulting support they need to enhance their business strategies, decisions and results. Its services include numerous publications and digital products, as well as proprietary studies and ongoing research on all aspects of the food industry.
Restaurant Sciences, Newton, Mass., provides syndicated data and insights on food and beverage consumption in restaurants, bars, nightclubs and other foodservice establishments. The company delivers market share, market basket, competitive analysis, pricing, promotional, trend, segmentation and custom analytics to food and beverage manufacturers and distributors, as well as the broader industry they serve, and restaurant companies. It delivers insights online through its business intelligence tool or through custom analytics.