On October 6, 2015 the world changed forever. McDonald’s rolled out all-day breakfast, ending years of near misses via pulling up to a McDonald’s drive-through at 10:33 AM with designs on devouring an Egg McMuffin, Hash Brown, and coffee, only to be told breakfast ended at 10:30 AM.
According to McDonald’s President Michael Andres, “This is the consumers’ idea. This is what they want us to do”. It is also what makes money for quick serve restaurants as breakfast sales between 2007 and 2012 rose by an average of 4.8 percent per year while lunch and dinner stagnated or fell. So why did they wait to roll out all-day breakfast, in particular with formidable competitors like Taco Bell, Burger King, Starbucks actively looking to take breakfast share?
A few of the suggested obstacles are more complex than you might think:
In short, all-day breakfast was a big gamble for McDonald’s which took many years for the quick restaurant chain to move forward on, and it appears the gamble paid off. McDonald’s same-store sales in the 4th quarter of 2015 rose for the first time in two years. This begs the question, are future growth opportunities hidden in your data which you can capitalize on today? If so, how do you find them?
A state of the art visual analytics platform can help a business person uncover hidden gems in their data provided it offers three things:
I invite you to get started on your visual analytics journey to see the whole story that lives within your data. One discovery could pave the way for years of growth!
Photo credit: SportSuburban via Foter.com / CC BY