Cost Management Through Data Analysis: How Craveva AI Enterprise Optimizes Business Costs

The simulation of human intelligence in machines that are programmed to think and learn like humans. In F&B, AI is used to automate decisions, analyze data, and provide insights.

A subset of AI that enables systems to learn and improve from experience without being explicitly programmed. ML algorithms identify patterns in data to make predictions or decisions.

Advanced AI models trained on vast amounts of text data that can understand and generate human-like text. Used in chatbots, content generation, and natural language processing.

An AI technique that combines information retrieval with text generation. RAG systems retrieve relevant information from a knowledge base and use it to generate accurate, context-aware responses.

Autonomous software programs that use AI to perform tasks, make decisions, and interact with systems. In F&B, agents can automate customer service, procurement, inventory management, and more.

Numerical representations of text, images, or other data that capture semantic meaning. Embeddings enable AI systems to understand relationships and similarities between different pieces of information.

A specialized database designed to store and query high-dimensional vectors (embeddings). Used in RAG systems to quickly find relevant information based on semantic similarity.

Computing systems inspired by biological neural networks. They consist of interconnected nodes (neurons) that process information and learn patterns from data.

A branch of AI that enables computers to understand, interpret, and generate human language. Used in chatbots, sentiment analysis, and text analysis.

A subset of machine learning that uses neural networks with multiple layers to learn complex patterns in data. Particularly effective for image recognition, speech recognition, and natural language processing.

The process of consolidating data from multiple sources (POS systems, databases, files, APIs) into a single unified platform. Essential for AI systems to work effectively with all business data.

The process of combining data from different sources into a unified view. Enables businesses to access and analyze all their data in one place.

A data integration process that extracts data from source systems, transforms it to fit business needs, and loads it into a target database or data warehouse.

A centralized repository that stores integrated data from multiple sources. Designed for querying and analysis rather than transaction processing.

A set of protocols and tools that allows different software applications to communicate and share data. APIs enable integration between systems.

An organized collection of data stored and accessed electronically. Common types include relational databases (PostgreSQL, MySQL) and NoSQL databases (MongoDB).

A series of data processing steps that move data from source systems to destination systems, often with transformations along the way.

The overall management of data availability, usability, integrity, and security. Ensures data quality and compliance with regulations.

The measure of data's fitness for its intended use. High-quality data is accurate, complete, consistent, and timely.

Technologies and strategies used to analyze business data and provide actionable insights. Includes reporting, analytics, and data visualization.

The system where customers complete transactions. POS systems record sales, manage inventory, process payments, and generate receipts. Examples include Qashier, Eats365, and Dinlr.

The process of ordering, storing, and using inventory. Effective inventory management ensures the right products are available at the right time while minimizing waste and costs.

The network of organizations, people, activities, and resources involved in moving products from suppliers to customers. Includes procurement, logistics, and distribution.

The process of finding, acquiring, and managing goods and services needed for business operations. Includes supplier selection, negotiation, and purchase order management.

The cost of ingredients used to prepare menu items. Food cost percentage is calculated as (cost of ingredients / menu price) × 100. A key metric for profitability.

The total cost of employee wages, benefits, and related expenses. Labor cost percentage is calculated as (total labor cost / total revenue) × 100.

The analysis of menu items based on profitability and popularity. Helps restaurants optimize menu offerings to maximize revenue and profit.

The average amount spent per customer transaction. Calculated as total revenue divided by number of orders. Increasing AOV is a key revenue growth strategy.

The total revenue a business can expect from a single customer over their entire relationship. Helps prioritize customer retention and acquisition strategies.

Strategies and processes to minimize food waste, inventory spoilage, and operational inefficiencies. Reduces costs and improves sustainability.

The delivery of computing services (servers, storage, databases, software) over the internet. Provides scalability, flexibility, and cost efficiency.

A software delivery model where applications are hosted by a vendor and made available to customers over the internet. Users access software through web browsers.

The process of connecting different software systems using APIs. Enables data sharing and workflow automation between applications.

An architectural approach where applications are built as a collection of small, independent services. Each service handles a specific business function.

The use of technology to perform tasks with minimal human intervention. In F&B, automation can handle repetitive tasks like order processing, inventory updates, and reporting.

A series of steps or tasks that need to be completed to achieve a business goal. Workflow automation uses technology to streamline and automate these processes.

The processing of data immediately as it is received, without delay. Enables instant insights and responses, critical for operational decision-making.

The ability of a system to handle growing amounts of work or to be easily expanded. Critical for businesses that plan to grow or handle variable workloads.

A visual display of key business metrics and KPIs. Provides at-a-glance views of performance and helps identify trends and issues quickly.

Measurable values that demonstrate how effectively a business is achieving key objectives. Common F&B KPIs include food cost percentage, labor cost percentage, and AOV.