Forget Great Waiters -- This Is the New 'Must Have' for Restaurants

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) - Get Report 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) - Get Report to gourmet restaurants need to build a better smartphone app or website in order to interact with customers.