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Hospitality Pricing and Menu Optimisation Data
Food & Beverage Consumption
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About
Data provides insights into restaurant menu optimisation, aiming to maximise profitability by analysing crucial variables such as menu item categories, ingredients, prices, and profitability indicators. It is specifically designed to support enhancing menu profitability through data-driven decisions. This synthetic dataset was generated exclusively for educational purposes, making it an excellent starting point for data science and machine learning projects focusing on predicting the profitability level of individual menu items.
Columns
The dataset contains six key variables:
- RestaurantID: A unique identifier for the restaurant.
- MenuCategory: Specifies the item's category (e.g., Appetizers, Main Course, Desserts, Beverages).
- MenuItem: The specific name of the menu item.
- Ingredients: A listing of ingredients used in the item, which includes confidential data for beverages.
- Price: The price of the menu item, recorded in dollars and rounded to two decimal places. The observed price range is from 2.01 to 29.8.
- Profitability: The target variable, indicating the menu item's profitability level (High, Medium, or Low).
Distribution
This resource is suitable for tabular analysis, presented initially as a CSV file (80.75 kB). It consists of 6 columns and 1000 valid records. The data is static, with an expected update frequency of Never. Regarding the target variable, Medium is the most frequent Profitability status, accounting for 50% of the records. Three unique Restaurant IDs are present in the data.
Usage
The data is valuable for several analytical processes:
- Analysing the factors that influence the profitability of menu items.
- Optimising pricing strategies, taking into account ingredient costs and menu category.
- Gaining insight into customer preferences and purchasing behaviour.
- Supporting menu engineering and data-driven decision-making in the hospitality sector.
Coverage
The scope is specific to restaurant menu items across three unique Restaurant IDs. Acknowledging dynamic market conditions, the profitability of items may fluctuate due to changes in ingredient costs or reductions in beverage production costs. It is noted that the dataset currently does not incorporate time or seasonal variables that would provide clarity on when these cost or pricing changes occur.
License
Attribution 4.0 International (CC BY 4.0)
Who Can Use It
This resource is highly valuable for several professional groups:
- Restaurant Management: For menu engineering and making data-driven decisions in the hospitality industry.
- Marketing Strategists: To understand item popularity and inform promotions.
- Data Scientists and Students: As it is an original, synthetic resource generated for educational purposes and machine learning projects.
Dataset Name Suggestions
- Restaurant Menu Profitability Prediction Dataset
- Hospitality Pricing and Menu Optimisation Data
- Menu Item Profitability Analysis
Attributes
Original Data Source:Hospitality Pricing and Menu Optimisation Data
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