A Study on the Method of Forecasting Restaurant Revenue Using Big Data

With the spread of ‘government 3.0’ which has been a core project by the government, researchers are now able to use public data that had previously been hard to access. Various services that are linked to Big Data are also on the increase. Major corporations around the world see Big Data as something that will open new opportunities in the market. Leading corporations consider it the core in business strategy and opportunities. As such, this paper seeks to use Big Data and public data to select major variables that affect revenue in order to forecast revenue. The time series data of these variables are used to present analysis methods that help to forecast revenue and the confidence levels are analyzed and compared across different forecast methods. Using these methods will help with decision-making on how much food ingredients to purchase and managing revenue flow.