Data access is one of the biggest influences on business intelligence, innovation, and strategy to come out of digital modernization. Now that so much data is available, the competitive edge for any business is derived from understanding and applying it meaningfully. McDonald’s France is gaining business-changing insights after migrating to a data lake, but it’s not just fast food that can benefit. Regardless of your industry, gaining visibility into and governance around your data is the first step for what’s next.
1. No More Manual Legacy Tools
Businesses continuing to rely on spreadsheets and legacy tools that require manual processes are putting in a lot more than they’re getting out. Not only are these outdated methods long, tedious, subject to human error, and expensive in both time and resources – but there’s a high probability the information is incomplete or inaccurate. Data-based decision making is powerful, however, without a data platform, a strong strategy, automation, and governance, you can’t easily or confidently implement takeaways.
Business analysts at McDonald’s France historically relied on Excel-based modeling to understand their data. Since partnering with 2nd Watch, they’ve been able to take advantage of big data analytics by leveraging a data lake and data platform. Architected from data strategy and ingestion, to management and pipeline integration, the platform provides business intelligence, data science, and self-service analytics. Now, McDonald’s France can rely on their data with certainty.
2. Granular Insights Become Opportunities for Smart Optimization
Once intuitive solutions for understanding your data are implemented, you gain finite visibility into your business. Since completing the transition from data warehouse to data lake, McDonald’s France has new means to integrate and analyze data at the transaction level. Aggregate information from locations worldwide provides McDonald’s with actionable takeaways.
For instance, after establishing the McDonald’s France data lake, one of the organization’s initial projects focused on speed of service and order fulfilment. Speed of service encompasses both food preparation time and time spent talking to customers in restaurants, drive-thrus, and on the online application. Order fulfilment is the time it takes to serve a customer – from when the order is placed to when it’s delivered. With transaction-level purchase data available, business analysts can deliver specific insights into each contributing factor of both processes. Maybe prep time is taking too long because restaurants need updated equipment, or the online app is confusing and user experience needs improvement. Perhaps the menu isn’t displayed intuitively and it’s adding unnecessary time to speed of service.
Multiple optimization points provide more opportunity to test improvements, scale successes, apply widespread change, fail fast, and move ahead quickly and cost-effectively. Organizations that make use of data modernization can evolve with agility to changing customer behaviors, preferences, and trends. Understanding these elements empowers businesses to deliver a positive overall experience throughout their customer journey – thereby impacting brand loyalty and overall profit potential.
3. Machine Learning, Artificial Intelligence, and Data Science
Clean data is absolutely essential for utilizing machine learning (ML), artificial intelligence (AI), and data science to conserve resources, lower costs, enable customers and users, and increase profits. Leveraging data for computers to make human-like decisions is no longer a thing of the future, but of the present. In fact, 78% of companies have already deployed ML, and 90% of them have made more money as a result.
McDonald’s France identifies opportunity as the most important outcome of migrating to a data lake and strategizing on a data platform. Now that a wealth of data is not only accessible, but organized and informative, McDonald’s looks forward to ML implementation in the foreseeable future. Unobstructed data visibility allows organizations in any industry to predict the next best product, execute on new best practices ahead of the competition, tailor customer experience, speed up services and returns, and on, and on. We may not know the boundaries of AI, but the possibilities are growing exponentially.
Now it’s Time to Start Preparing Your Data
Organizations worldwide are revolutionizing their customer experience based on data they already collect. Now is the time to look at your data and use it to reach new goals. 2nd Watch Data and Analytics Services uses a five-step process to build a modern data management platform with strategy to ingest all your business data and manage the data in the best fit database. Contact Us to take the next step in preparing your data for the future.
-Ian Willoughby, Chief Architect and Vice President