However, even if the POS system is extremely important in determining customer features, the information provided by this system does not suffice in making accurate sales forecasts. Therefore, the information from the POS system is combined with information provided by statistics that refer to production costs, prices introduced by suppliers, and macroeconomic forecasts.

There are numerous variables that can be used in estimating daily sales. Given the fact that the company's activity is focused on its customers, variables regarding them are the most used predictors of daily sales in the restaurant industry. Such variables that apply to customers are represented by the age, the gender, the lifestyle, the incomes, preferences regarding music, clothes, food, drinks, leisure time of customers. Some of this information can be gathered by the POS system, but other information mentioned above must be obtained from customers, if they approve with it. Therefore, the company can develop...
[ View Full Essay]