S2E70 - How ClearCOGS Optimizes Restaurant Decision-Making

About the Episode

In this episode of WISKing It All, host Angelo Esposito speaks with Matt Wampler, CEO and co-founder of ClearCOGS, about the intersection of restaurant operations and technology. Matt shares his journey from being a restaurant operator to founding a tech company that leverages AI to help restaurants make data-driven decisions.

The conversation delves into the challenges faced by restaurateurs, the importance of curiosity in entrepreneurship, and how ClearCOGS provides solutions to optimize restaurant management through predictive analytics and data analysis. In this conversation, Matt Wampler from ClearCOGS discusses the integration of technology in restaurant operations, focusing on inventory management, predictive analytics, and the challenges of alcohol management.

He emphasizes the importance of collaboration with operators to tailor solutions to their specific needs and highlights the role of AI in streamlining back-of-house operations. The discussion also covers the significance of demonstrating ROI to restaurant owners and the future potential of AI in the hospitality industry.

Takeaways

• The restaurant industry still heavily relies on Excel spreadsheets for operations.
• Focusing on execution and customer experience can be more effective than marketing.
• Curiosity drives innovation and problem-solving in entrepreneurship.
• Restaurants are creative in utilizing available tools to solve problems.
• Data-driven decision-making is crucial for restaurant efficiency and profitability.
• ClearCOGS uses AI to analyze vast amounts of data for actionable insights.
• Understanding customer behavior and external factors is key to forecasting.
• The restaurant industry is becoming more open to adopting technology.
• Partnerships with technology vendors can enhance operational efficiency.
• Predictive analytics can significantly improve inventory management and staffing decisions. ClearCOGS integrates with major POS systems for quick setup.
• Operators engage in collaborative problem-solving sessions.
• Daily briefings help optimize inventory management.
• Alcohol management poses unique challenges in restaurants.
• Innovative inventory tracking uses Bluetooth scales and databases.
• Camera technology is evolving but not yet fully reliable for inventory.
• Operators should focus on key questions for effective management.
• Predictive analytics can assist in labor management and scheduling.
• Demonstrating ROI is crucial for technology adoption in restaurants.
• AI can significantly reduce the operational burden on restaurant managers.

Timestamps

00:00 From Struggling Operator to Tech Innovator 04:13 "Ultra-Fast Sandwich Delivery" 09:27 "Challenges of Being First Adopter" 10:46 Balancing Tech and Hospitality 14:15 Predictive Brisket Sales Analytics 17:59 Weather and Events Impact Deliveries 19:45 Evolution of Inventory Management System 23:31 Restaurant Tech Adoption Evolution 26:38 Optimized Brisket Forecasting Model 29:44 WISK: Crowdsourced Bottle Database Success 32:26 "WISK’s Tech Evolution and Core Functions" 37:22 Key Questions for Restaurant Operators 41:18 Ex-Cheesecake Execs Reduce Waste 42:34 Focusing on Bottom Line Profits 46:58 Startup Challenges in Hospitality Management 49:11 "AI Innovations for Restaurants"