Lightspeed(US:LSPD) Prnewswireยท2024-09-12 12:00Core Insights - Lightspeed Commerce Inc. has launched a new feature suite called Benchmarks & Trends for American restaurateurs, aimed at enhancing their operational performance through machine learning insights [1][2]. Industry Overview - According to Lightspeed's 2024 State of Hospitality Report, 49% of restaurateurs are experiencing increased competition, and 74% are looking to technology to streamline operations [2]. - The restaurant industry is increasingly focused on data-driven decision-making to improve performance and competitiveness [3]. Company Developments - The Benchmarks & Trends tool provides restaurateurs with tailored insights, allowing them to compare their performance against local competitors in areas such as sales and pricing [5]. - The tool utilizes machine learning to offer smart forecasting and operational optimization, helping restaurants identify peak hours and optimize staffing [5]. - Lightspeed Restaurant POS is reported to be 40% faster than other leading systems in North America, enhancing operational efficiency [3][4]. Product Features - Benchmarks & Trends offers personalized benchmarks that adjust daily based on business size, providing relevant insights for both small and large establishments [5]. - The tool includes access to up to four weeks of historical data, enabling restaurateurs to anticipate trends and make informed decisions [5]. - The feature is designed to empower restaurateurs with essential market information to outperform competitors in a crowded dining landscape [3][6].