Artificial intelligence is making waves in the media and reshaping industries, with limitless possibilities for future developments. Datassential has a legacy of incorporating AI to support our work and improve results for customers for more than 15 years.
Datassential has been collecting menu data from a representative sample of US restaurants for more than 20 years, which provides the information needed for AI to predict how penetration for any item will evolve over the course of four years. Since AI is only as good as the underlying accuracy of the data, Datassential’s AI predictions are trained on the best data available and informed by the longest historic trend, allowing our clients to predict the future penetration for every item on a menu with 98% accuracy.
With the explosion of plant-based items in recent years, the range of new words used to describe items and dishes with this theme also led to challengers for tracking trends in the category. To solve for this, Datassential created an AI-powered classification algorithm that captures everything that encompasses the spirit of the plant-based alternative trend while separating these items from similar menu items (like veggie sides) that are not truly emblematic of the category. This allows for a truly comprehensive way to track and analyze plant-based foods and beverages, without being clouded by similar – yet unrepresentative – items.
Datassential’s AI-powered benchmarking tool allows users to identify price variations by item and geographic location for any chain restaurant, and track changes in price and availability of competitive menu items over time. Price Monitor leverages AI to standardize, categorize and de-dupe menu items across restaurant chains to enable item-level data, akin to a SKU, that can be benchmarked across all chains and used to answer critical business questions.
To provide the most comprehensive foodservice sales targeting information, Datassential offers a database of every restaurant in the US with information on each brand, its menu, key contacts, recent LTOs, and more. AI is leveraged in this database to provide the most up-to-date and complete detail about each operator, and apply tags and cluster restaurants to enable the most actionable sales opportunities.
Creating new concept ideas is both an art and a science, and Datassential blends culinary art and data science to validate new concept ideas in real time. With the industry’s first and only AI-powered development studio, Datassential’s Concept Ideation tool provides instant feedback for every aspect of a concept and makes suggestions for refinement. The tool leverages machine learning and AI technology to predict how consumers will react to new concepts, and identifies the best ideas for moving onto menus and retail shelves.