Financial and operating decisions are made based on current market conditions and predictions about the future. Previous data is aggregated and analyzed to find patterns, which are used to predict future trends and changes. Forecasting allows your company to be proactive rather than reactive. Restaurant forecasting helps restaurant owners to make informed and accurate decisions regarding staffing, purchases, profitability, etc.
This analysis will support, with data, decision making on the level of balance of their cash flow. Analyze the minimum sales volume your company needs to continue operating normally and the sales compensation plans to see if you need to adjust commissions or bonuses. Forecasting based on historical data can provide information about your two most important costs, food and labor, and help you make essential decisions about where and when to allocate your resources. You can improve the level of accuracy of your forecasts over time by correctly comparing the estimated sales forecast with actual sales, identifying any discrepancies and taking them into account for your next forecast.
First of all, because if it's not on your shelf, you can't waste it, forecasting sales can help limit food waste. At BAASS, Remington works in the Marketing Department as a marketing coordinator and uses her knowledge and creativity to plan and execute marketing material with her team to inform customers about the services and solutions that BAASS offers. Forecasting won't generate perfectly accurate results every day, but forecasting for restaurants is vital to recognizing trends and responding proactively.