Technomic uses predictive analytics to identify top menu ingredients to watch and help clients anticipate industry shifts

Enhancements to the online dashboard are being implemented to provide predictive capabilities, with the menu component completed first

News provided by

Technomic

Oct 09, 2019, 10:10 ET

CHICAGO, Oct. 9, 2019 /PRNewswire/ -- Technomic has provided the foodservice industry with trend insights, analytics and expertise for over 50 years. The company is now leveraging artificial intelligence tools by way of machine learning and natural language processing to create predictive tools for the foodservice industry. These tools will identify menu trends and help clients stay ahead of industry shifts.

Technomic uses time-series modeling to determine future menu trends. The predictive model also leverages historical menu trends, social listening tools and consumer sentiment to forecast how ingredients, flavors or dishes will trend in the coming years.

"Our analysts here at Technomic have always had these kinds of tools available, but now we're taking our forecasting to another level," explains Lizzy Freier, senior managing editor. "By elevating our analytics practices, we can be more forward-looking and confident in our predictions. Brands can use these enhanced resources to make more informed business decisions and position themselves as thought leaders."

Technomic has shared a sample of its predictive analytics capabilities with a whitepaper showcasing 10 ingredients expected to have the highest growth in restaurants in the next two years. The whitepaper is available for download: https://www.technomic.com/membership-programs/menu-trends

Technomic's Ignite platform delivers the necessary tools and insights to support growth initiatives. In addition to its predictive menu features, Ignite offers company intel, consumer data and robust report libraries.

About Technomic

Technomic, Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic's services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking, as well as other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.

About Winsight LLC

Winsight LLC is a recognized leader in business-to-business media and information services for the convenience-retailing, foodservice and grocery industries. Winsight has an extensive media portfolio, including five publications: CSP, Restaurant Business, FoodService Director, Convenience Store Products and Winsight Grocery Business. Winsight also offers a suite of digital products, including websites, e-newsletters, webinars, video products, mobile and tablet apps, and custom marketing solutions. In addition to more than 12 major EduNetworking conferences and advisory meetings, Winsight also produces seven exclusive, large-scale executive-level conferences: Restaurant Leadership Conference, Global Restaurant Leadership Conference, Outlook Leadership Conference, Convenience Retailing University, FSTEC, MenuDirections and Restaurant Directions. In 2015, Winsight acquired Technomic Inc., a provider of primary and secondary market information and advisory services for the food industry. For more information on Winsight and its brands, go to www.winsightmedia.com.

Contact: Patrick Noone, (312) 506-3852, [email protected]

SOURCE Technomic