Using Data to Predict the Future - Brandon Overstreet advocates for data and acquiring as much data as possible. Overstreet believes that data is not only a picture of what is happening in a restaurant, but a look into the future and a way to analyze costs.
Breaking through the Glass Ceiling of Stagnation - As the world changes and technology evolves, Brandon Overstreet believes many database platforms are antiquated and insufficient for customer loyalty programs. To maintain growth, specifically financially, Overstreet believes companies need to work hard to find the next best company on the rise to work with.
Courageous Data Integration - Brandon Overstreet is a fan of the courageous pursuit of data. Then, having restaurants integrate that data into their business. However, Overstreet says it's best to use partners within the data cycle, and not try to go at it alone due to the amount of data there is to measure
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On a recent episode of Data Delicacies by Incentivio, hosted by Arun Kumar, i40 Group CMO Brandon Overstreet shared invaluable insights into the evolving role of data in the restaurant industry. Overstreet, known for his data-driven approach, discussed how restaurants can harness data not just to understand the present, but to predict the future and optimize growth strategies.
Using Data to Predict the Future
Overstreet firmly believes in the power of data, emphasizing that it's more than just a snapshot of what’s happening in a restaurant—data provides a glimpse into the future. He encourages companies to dive deeper into their data, not only to understand current trends but to foresee changes and make informed decisions about costs and operational needs.
“I really think that we need more data platforms out there for the smaller companies,” Overstreet explained. “You have to read it, it tells a story, and then you have to believe it.”
He stressed the importance of having the right team in place to interpret and act on this data, noting that many smaller companies lack analysts who can help maximize these insights.
Overstreet values software companies like Incentivio for their ability to "pump out information," helping businesses move from simply understanding data to forecasting and planning for future success.
Breaking Through the Glass Ceiling of Stagnation
Overstreet also touched on the challenges many restaurants face with outdated database platforms, particularly when it comes to loyalty programs. As technology evolves, many companies fall into the trap of using the same old strategies, leading to stagnation in growth and customer engagement. He believes that companies must be willing to take risks and test new strategies to break free from the limits of their current systems. Working with innovative partners and continuously exploring emerging technologies is key to staying competitive in an ever-changing industry.
“The database is getting old and stale.” Overstreet pointed out. “Get out there and understand the data and then work with some of those partners that fit into your brand.”
Courageous Data Integration
One of Overstreet's key messages was the importance of being courageous when it comes to integrating data into business operations. He acknowledged that while the volume of data available can be overwhelming, businesses must measure and integrate that data effectively across all touchpoints. He recommended working with partners who can guide restaurants through the complexity of data integration, ensuring that systems are aligned and functional, and encouraging businesses to embrace the support of external partners in their data journey.
“There’s a lot of data, more than you probably know,” Overstreet said, urging businesses to prioritize data measurement and integration. “Get it measured, and get an effective digital presence on all touch points. As unintegrated as they may seem, it can be pulled together. There are ways to pull the data together, but you just have to find the right people. Don't be afraid of it. Don't be afraid to talk to some of these smaller companies.”
Brandon Overstreet's appearance on Data Delicacies highlights the transformative potential of data for the restaurant industry. From predicting future trends to breaking free from stagnation and courageously integrating data into business operations, Overstreet’s insights emphasize the importance of harnessing the full power of data. For restaurants looking to stay ahead of the curve, Overstreet’s advice is clear: be proactive, be bold, and don’t be afraid to collaborate with the right partners to unlock growth opportunities.
Episode Links:
I40 Group Online: https://i40group.com/
Brandon Overstreet LinkedIn: https://www.linkedin.com/in/brandonoverstreet/
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ABOUT BRANDON OVERSTREET
Brandon Overstreet is an accomplished Chief Marketing Officer and Brand Strategist with over two decades of experience driving growth and innovation across a wide range of industries. He excels in crafting and implementing comprehensive marketing plans that boost brand visibility, engage consumers, and build loyal customer bases, all contributing to strong business results. His expertise in understanding consumer behavior, technology, and market dynamics allows him to design campaigns that connect with key audiences. Overstreet has a strong track record of transforming both static and emerging marketing departments into top-performing teams, fostering an environment of creative thinking, data-driven strategy, and accountability. His leadership has been pivotal in launching new products, rejuvenating established brands, and delivering substantial revenue growth. With a passion for data-informed marketing, Overstreet consistently pushes for innovation and stays ahead of industry trends. He holds a film degree from the University of Southern California.
ABOUT DATA DELICACIES—
Data Delicacies is a weekly podcast that dives deep into the world of technology and data as it pertains to restaurants. Host Arun Kumar interviews some of the best and brightest in the industry about all things hospitality tech, artificial intelligence, and machine learning.
Data Delicacies on Spotify: https://open.spotify.com/show/29ExS0n9X3Z3FyK4HuSPKH
Incentivio Online - https://www.incentivio.com/
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Produced by Incentivio & Cali BBQ Media - https://www.incentivio.com/ | https://betheshow.media
