Food has successfully paved its way as the favourite luxury in every family, emerging as an ample opportunity for many businesses to grow. Skipping the long queues to get tasty food and walking out of the house to a store has become outdated concepts. Currently, it's an era of the plethora of options to choose from in every variety that is available in various locations and ready to be delivered at our doorsteps safely. The food-tech market in India is projected to grow at a robust pace, at a CAGR of over 12% during 2016 – 2021. The growth is expected because of the increasing internet penetration and proliferation of smartphone users, the budding e-commerce market, and the rising young working population. Against this backdrop, many food-tech players and aggregators have swelled –Swiggy, FoodPanda, InnerChef and FreshMenu. a. Explain how food-tech startups can use location-based tracking tools and real-time analytics tools for better insights? b. Elaborate how using predictive analytics can help improve business outcomes at the foodtech startup.
Food has successfully paved its way as the favourite luxury in every family, emerging as an ample opportunity for many businesses to grow. Skipping the long queues to get tasty food and walking out of the house to a store has become outdated concepts. Currently, it's an era of the plethora of options to choose from in every variety that is available in various locations and ready to be delivered at our doorsteps safely. The food-tech market in India is projected to grow at a robust pace, at a CAGR of over 12% during 2016 – 2021. The growth is expected because of the increasing internet penetration and proliferation of smartphone users, the budding e-commerce market, and the rising young working population. Against this backdrop, many food-tech players and aggregators have
swelled –Swiggy, FoodPanda, InnerChef and FreshMenu.
a. Explain how food-tech startups can use location-based tracking tools and real-time
analytics tools for better insights?
b. Elaborate how using predictive analytics can help improve business outcomes at the foodtech
startup.
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