Analytics is an invaluable tool to ensure a company's development and growth. The metrics they produce are the driving force behind successful advertising campaign strategies. They can often be the savior in discovering why things are going wrong.
Nowadays, almost every business will use analytical tools to aid their business model, from social media platforms such as Facebook to consulting firms like Scanteam. No matter what the industry, extracting data intelligence has a myriad of benefits.
Analytic data in the casino industry has many uses. According to Alex Lysak, it has been used for decades in brick and mortar establishments to improve and expand. Thanks to the advancement in analytic technology, casino science is now revolutionizing online operations.
Below, we'll explore how casino managers use analytics to improve their businesses.
Analytics is the systematic gathering of data. The data can involve all manner of things obtainable by outside interactions. For example, you can collect metrics on the number of clicks an ad receives or your visitors' average age.
The data is then converted to statistics that support the discovery of meaningful patterns. Patterns can then be interpreted by managers to aid effective business decision making.
The Benefits to Analytics-Based Business Decisions
Through casino analytics, managers have an insight into customer behaviors, habits, and interactions. For example, predictive analytics can be used for forecasting trends. You can then promote specific titles and remodel promotions in line with and ahead of these predictions.
Online casino managers can also use analytic metrics to track web traffic flow. If any casino analytics issues are flagged, managers can pinpoint the problems and adjust operations.
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Big Data in Casino Analytics
Standard analytics are single strings of data. The data is turned into statistics and cross-referenced. The process is not very complex, and neither are the results. However, big data analytics allows operators to gather vast amounts of more complex information. Big data is often based on customer interactions.
Big data in casino analytics can also sweep information on competitors and build in-depth customer profiles. A customer profile may include details of age, gender, demographics, browsing movements. All of the above can create personalized advertising campaigns that, in return, create a more loyal customer base.
Big data in casinos can also monitor player preferences and discover gaming trends. Online casino operators face the challenge of organizing extensive libraries of titles. Big data takes out the guesswork of which to promote. By tracking click rates, payouts, and time spent playing, managers can conclude which games are more popular. They can then use gaming analytics to attract new players and avoid using less popular titles during advertising.
Customer retention will also improve through displaying only attractive games. Plus, the insight into the competition will help you stay one step ahead of rivals on the market.
How to Use Specific Analytics in the Gaming Industry
As you now understand, analytics data can be collated on a vast amount of things. Yet, interpreting the information into workable ideas is the final step in using this tool to improve your business.
The ways in which casino managers can use this data are endless. You just need to have a little business-related imagination. Some of the most common include:
- Use a customer's date of birth to send personalized birthday well-wishes. Make it even more rewarding by including an exclusive promotion or free spin gifts.
- Promote relatable demographically themed games to members residing in that location.
- Understand the unusual behaviors of your customers, which could signal their dissatisfaction. React by offering player specific promotions.
- If your members are predominantly a particular gender, begin an advertising campaign to attract the opposite sex.
Without analytics to guide your decision making, improvement will be slow and challenging. You may make many mistakes as the majority of your actions will be guesswork.
The casino industry is highly competitive. A tool that lets you learn more about your customer base and the workings of your site could be the difference between your success over the rest.
The introduction of big data boosted the information available to online operators. With big data, you have a window into gaming analytics in casinos and your competitors advancements. You will also be able to discover and use customer behaviors to your business advantage.
Analytics software for casinos will continue to develop in complexity and depth. In return, the industry will become more tailored to players' specific wants and needs. Casino managers must stay in tune with these advancements. They need to optimize their analytics to stay ahead of the competition.
About the Author
Alex Lysak is the CEO of ScanTeam. I am working in online marketing since 2011, my main areas of expertise are marketing research, social media marketing, and SEO. During 9 years of experience, I have helped many products and startups to develop marketing strategies and to implement them further.https://twitter.com/lysak_aleksandr