How the Internet of Things is Shaping the Restaurant Business

Even if you can't clearly explain what "internet of things" (IoT) means, you are most likely familiar with the concept. If you can control your home thermostat with your smart phone or order movies on your television by summoning "Alexa" via Amazon Echo, you understand that many devices are connected to and controlled via the Internet.

Powerful micro processing capabilities can be incorporated into the smallest and most mundane items. Combined with ubiquitous Wi-Fi connectivity, unimaginable volumes of data can be up-loaded to the so-called "cloud" and processed. Your mobile phone is likely more than just a communication device. It is providing a continual stream of information that is being analyzed, tracking your movement, transactions and more.

Ironically, the restaurant industry has long been considered "low tech", even though the technology in your own business has likely advanced by leaps and bounds from what you or other operators were using even 5 or 10 years ago. From hand-held point-of-sales devices to apps that allow operators to take liquor inventory with their personal mobile devices, the restaurant business is benefiting from advances in cloud-based computing and software development.

Restaurant Startup & Growth occasionally dedicates space in the magazine to helping its readers become familiar with these advances and how they promise to help you run a more effective and efficient operation. If you are already on the learning curve or using current technology, that's great. If some of this stuff seems "black box", it is worth your time to become better acquainted with the concepts and terminology - and how you might employ them in your business. In many cases, IoT advances help owners and managers oversee their business operations and security remotely, and analyze important cost and revenue centers in real time.

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