Revolutionizing Restaurant Pricing with Data Science with SignalFlare.AI

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In this episode of the Restaurant Technology Guys podcast, the host introduces Mike, a guest with over 25 years of experience in restaurant technology and operations. Mike discusses his journey from restaurant operations to restaurant technology, emphasizing the evolution of data analytics in the restaurant industry. Initially involved in building price elasticity models for restaurants, Mike shares his experience as an early partner in a venture that became a global pricing provider for McDonald's. He also talks about starting his own company focused on pricing, promotional analytics, and leveraging cloud technology like AWS early on. The discussion then shifts to Mike's latest venture, which arose from the challenges and shifts in consumer behavior due to COVID-19. Mike explains how traditional data analysis methods became obsolete and how he adapted by utilizing new data sources like mobile and credit card data. This innovative approach allows for a deeper understanding of customer behavior, enabling more accurate pricing and promotional strategies even for smaller restaurant chains. The podcast highlights the importance of data-driven decisions in the restaurant industry and how Mike's work through his company, SignalFlare, offers innovative solutions to operators looking to optimize their pricing strategies based on robust data analytics.
00:00 Welcome to the Restaurant Technology Guys Podcast
00:19 Introducing Mike and His Journey in Restaurant Tech
00:32 The Evolution of Data Analytics in Restaurants
03:47 Launching a New Venture: Adapting to Post-COVID Challenges
05:30 Rethinking Data Analysis for Restaurants
26:15 The Power of Decision Intelligence for Restaurants
31:22 Exploring the Future of Restaurant Pricing Strategies
37:31 How to Learn More About SignalFlare
40:52 Closing Thoughts and Thanks