Big data and advanced analytics can give insights into almost anything. One area in which data is being widely used is in gaining a better understanding of customers in order to identify new opportunities as well as potential problems.
Gambling is all about numbers, and so it should come as no surprise that the rise of big data has caught the attention of the industry leaders. Gaming centers are turning to data analytics to make the gaming experience better for customers while also keeping the casinos solvent.
Gambling can be a risky business, for both the player and the casino and resort. Resorts and their gaming centers have to allow gamblers to win a few games in order to encourage them to continue playing. Also, the gaming centers need to minimize the frequency of big wins if they want to remain solvent.
Some casino resorts are relying on data analytics to draw patterns of where their customers are spending money when at their resort whether on a particular slot machine or in one of their restaurants. Studying these patterns allows the resort managers to offer incentives to bigger spenders and to ensure that gamblers don’t lose so much money that they end up leaving.
Data analytics also enables casinos to study players’ habits, which games are most popular and what amenities in the hotel, spa or restaurant, attract customers the most. Some resorts are using data analytics tools to measure the performance of each individual venue, giving them real-time information that facilitates better budgeting and business decisions.
Data analytics software organize all the information, giving the company a holistic picture instead of receiving subsets of data from each individual restaurant, spa or gaming center under its purview. It is important to gain an accurate overview of how all these businesses interact with each other in order to make the right decisions. Oracle Hospitality Opera Cloud Services is a flexible, scalable, secure, fully mobile platform for hotel operations and distribution. It provides core property management capabilities that extend to meet the operational needs of hotels ranging from small independent boutiques to large chains.
Casinos are using analytics to determine an optimal layout for games so as to maximize revenue. They are offering customers attractive deals on stay and food in order to encourage gambling. Bravo Poker offers a complete poker room management solution which satisfies all aspects of operations, marketing and payments, in order to deliver accurate monitoring, tracking and managing of the entire poker room. The key to success is to be selective and tailor the offer according to customer preferences.
One of the key benefits of using analytics in the casino industry is in allowing casinos to do micro-segmentation of their base. This micro-segmentation allows them to be much more focused in their marketing and service efforts. Once patron value is known, present and projected, his affinities and behaviors as well his demographic characteristics – casino can use analytics to figure what is the best suited marketing action that will either drive his behavior, maintain and increase his value, or stop him from churning to competition. The Oasis 360 Solution is a highly robust casino management system that enables casinos to leverage technology to drive player loyalty, influence player behavior, manage gaming operations and create marketing incentives that extend their brand beyond the property.
Due to the fast pace of the industry, insights are required in real time, on a daily basis. Also, timely processing and analyzing data is imperative to stay ahead of competition. Whether used by casinos or gamblers, for oddsmakers or those playing the odds, big data is having a transformative effect on the gambling industry. With so much information being generated and gathered, it is clear that its impact is likely to be seen for a long time.
The time has come for analytics players to enhance their analytics solutions, thereby helping casinos in improving service to patrons, increasing patron loyalty, optimizing revenue, achieving greater returns on promotions, lowering costs, and boosting operational efficiency. One thing is for sure, the gaming industry is no longer leaving things to luck!!