Monday, August 1, 2016

Press Release: Launching ChefQuant – A Restaurant-level Data Analytics and Quantitative Solutions Marketplace


ORLANDO, Fla. - July 31, 2016 - PRLog -- Sid Som, owner and publisher of prominent data analytics sites like Homequant, TownAnalyst and LocValu, is pleased to announce the launch of ChefQuant, an online data analytics and quantitative solutions marketplace for restaurant owners, managers and chefs. Unlike trade organizations that focus on macro industry trends and generic industry solutions, ChefQuant will offer custom solutions to individual restaurants, effectively mining and modeling their internal and external customer survey data. A trend-setting book 'ChefQuant - A Practical Guide to Data Analysis and Modeling for Restaurant Owners, Managers and Executive Chefs' spearheads the launch.

While the vast majority of non-chain restaurants have access to their customer data, they do not necessarily possess sound know-how to explore and mine their own data reservoir. Sid contends each restaurant has its own unique micro market, often significantly bucking its (macro) industry trends and nuances. A restaurant's data reservoir is therefore its own internal goldmine with hidden answers and solutions waiting to be harnessed for their success and profitability. Industry-level data solutions are too broad-based to be plug-and-play for all; consequently, one-size-fits-

all industry solutions often require costly re-engineering to be, at best, somewhat productive for most members. Instead, if they are provided some hand-holding in understanding and modeling their own data, they will perhaps promptly learn to address their own shortcomings and remain on a profitable path.

The reason Sid started his Blog ahead of opening the actual online marketplace is to demonstrate to the target audience how his proposed solutions could be of tremendous help for all restaurant owners – successful or not-so-successful. Even those who are contemplating opening new restaurants or adding new locations can benefit immensely from his solutions. Since ChefQuant solutions are based on a restaurant's own data, rather than borrowed generic data from the competition or the industry as a whole, they are totally custom tailored addressing their own unique issues and challenges, hence incredibly result-oriented.

Depending on the individual needs, ChefQuant will provide solutions ranging from demographic analysis for new locations to customizing menus for generational tastes to identifying deficiencies in existing menus to aligning entrées with adult beverages to forecasting sales to developing internal performance and service metrics, to name just a few possibilities. Needless to say, ChefQuant uses sound statistical, econometric and operations research techniques in mining and modeling all data.

In a recent conversation Sid mentioned, "The non-chain restaurant market is one of the most competitive markets out there. One of the reasons many succumb to the competition is that they do not attach much importance to data analysis and modeling, which in most cases hold the key to their success or failure. Granted, restaurant owners, professional managers and chefs are not expected to be trained quantitative technicians, which obviously created a dire need for external professionals to step in and work with the industry to develop custom solutions. I urge all restaurant owners, managers and chefs to read my book  and decide for themselves if we make sense. Bring your data to us and we will show you the path to continued success and profitability."