Technology and "big data" have remade the dining experience, says Damian Mogavero, author of The Underground Culinary Tour. The rise of food-specific television shows and celebrity chefs like Shake Shack's (SHAK) Danny Meyer have raised the bar for restaurant consumers. And restaurants better deliver or they will go under.

Mogavero also explained why eateries from McDonald's (MCD) to gourmet restaurants need to build a better smartphone app or website in order to interact with customers.