How BI and Big Data is Essential to McDonald’s Growth Strategy

source:https://www.softwareadvisoryservice.com/en/blog/how-bi-and-big-data-is-essential-to-mcdonald-s-growth-strategy/


McDonald’s, a well known fast food restaurant, serve thousands of customer per day. Successfully consolidate the place in fast food. Following the trend, they create a new mode of operating system and enhance the customer experience

Virtually, big data composed by huge information and unstructured data. This data included customer’s information, purchase habits and market trends that can be used to maximize your business efforts. By the article”When customer intelligence is used correctly, you can base all of your future business decisions on data-driven intelligence.” Besides, big data can bring you the following advantages:

Possibility of cost savings
Time reductions and time optimisation
New product development
A deeper understanding of the market conditions

McDonald’s has using this new technology for quite some time. According to statements from the company’s 2017 growth plan, the fast food giant set out to focus on “enhancing digital capabilities and the use of technology to better off the customer experience.”



Since its establishment in 1940, McDonald's began to open restaurants around the world, and gradually became the world's leading food service retailer. Today, they operates  more than 34.000 local restaurants.

The Advantages of Big Data
New product development
Reduce the cost
Deeper understanding of marketing

Through the development of this big data technology, Mc has successfully caught up with new trends and improved customer ordering convenience
Based on the above views, the reason why McDonald's can stand in many fast food restaurants is because it can accept new technologies and apply them.

Comments

  1. D0740959 李易錩 LouieJune 24, 2020 at 5:07 AM

    When I think of first mention McDonald's, it must be a Big Mac burger and not big data. However, a recent McDonald's acquisition may reverse this impression.
    It is reported that McDonald's is about to announce an acquisition agreement with Dynamic Yield. The latter is a big data startup based in Israel that specializes in providing algorithm-driven "decision logic" technology to retailers. When consumers add products to an online shopping cart, this technology can recommend to users the products that other customers have purchased.
    McDonald's CEO Steve Easterbrook in an interview with Wired, Easterbrook said: "We also need to integrate this new technology with the original business to ensure that all parts of the communication can be unimpeded. How can we switch from large-scale marketing to large-scale personalized marketing? The key is to use A truly beneficial way for customers to unlock data assets in the entire ecosystem."
    McDonald's is currently piloting a restaurant in Miami. The latest algorithm can comprehensively analyze various data such as weather, time, traffic, nearby major events, historical sales, etc., and the scope covers franchise stores around the world.
    The main application of this machine learning model is to show customers the most popular products at the location, thereby driving potential sales growth. For example, the screen will show after the customer orders: Thank you for choosing the happy package, maybe you also want a sprite.
    Standing at a higher dimension, considering that McDonald's has accumulated rich data assets for a long time, it can also apply this technology to a wider field in the future. Easterbrook pointed out, "Everyone will see that we use intelligent prediction algorithms to analyze the real-time information generated by the kitchen to enhance control of the supply chain. Although we have not yet achieved it, as we connect customer demand forecasts with restaurant inventory data, The operation of the entire supply chain will undoubtedly become more elaborate. I believe all this will become a reality."

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