We’ve all watched Danny Ocean in Ocean’s Eleven and fantasized about rolling a dice one day, seated inside a lavish casino, just trying out our luck and taking that fun risk, regardless of the outcome. Be it in the local parlors of China or the plush surroundings of Las Vegas, we all dream of formulating travel plans, sharpening our skills, and risking our luck at a game of blackjack or poker.
In spite of the economic decline and issues, the casino industry persists to bloom and lure the crowds. The sector appears to be flourishing, coupled with rising competition and high stakes.
This is the age where data science becomes crucial for any industry to boom. Big Data analytics in particular offers marketers unmatched data regarding their customers. The possibility of easily recording, tracking, and processing massive volumes of data with every little action carried out by the user has become possible through Big Data.
When it comes to the casino industry, big data has played a significant role in aspects like identifying demographics, marketing as well as player retention for the involved operators, enabling them to spend more time focusing on enhancing their metrics. Simultaneously, this has also resulted in boosting the whole gaming experience for the players, who are facilitated with the experience they fancy.
Now, what exactly is Big Data?
Big Data is the massive collection of user data that is derived from competent analytics as well as tracking. This data makes it simpler to gather and extract immense datasets to produce purposeful results. Big Data facilitates valuable insights for online casinos such as who the players in the market are, what they are betting on, where they go as well as the time they take to play.
The data is also effective in experimenting with varied approaches, making it simpler to split test various games, create layouts, elements as well as promotions, and also facilitate straightforward feedback regarding what approach is functioning well and which is not.
Data science is crucial for the gaming industry to flourish and grow since casinos consist of historical as well as real-time information on all areas such as restaurant and spa purchases, the time invested in slot machines, etc. Possessing this data enables casinos to personalize the incentives provided to each consumer for spending and wagering.
An example of this is the Aria Resort & Casino where the server-based slot machines are customized to satisfy individual players. Another example is the National Finals Rodeo, amid which the machines feature a rodeo theme, facilitate the showtimes for applicable events and also in case of the birthday of any player, even wish them a happy birthday.
Yet one more excellent example of the application of Big Data is the SaskGaming corporation which has entered into an alliance with SAS Analytics and also adopted predictive data analytics. The main aim was to enhance the demand for using slot machines. The information gained from the study enabled the corporation to provide suitable games in relevant spots to lure customers.
This enables casinos to set off on an endless journey to perfect their services by reacting to the collected data and personalizing their platforms in accordance with their audience’s characteristics. This has the scope of being effective in two main areas as previously mentioned, namely marketing and retaining players, which enables casinos to focus on effectively enhancing their customer base.
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For instance, various online casinos consist of a massive range of items such as bingo games, and big data can play an imperative role in helping to cross-sell the product.
7 Applications of Big Data in the Casino Industry
Below are a couple of ways in which casinos can capitalize on big data to enhance their profits.
7 Applications of Big Data in the Casino Industry
1. Big Data facilitates data on Competitors
Companies adopt big data to process information about their competitors according to the user’s behavior on their sites. Big Data enables online casinos to keep track of the popular games that users like playing on other websites. This in turn helps casinos to locate their active competition and to determine how they can achieve an edge over their competing sites.
2. Big Data Reveals Player Preferences
With a plethora of online gambling games placed at the service of the customers, it becomes challenging for an online casino to choose the best suitable games which can lure clients. This challenge becomes easier with big data.
For instance, casinos such as gclub can approach data by taking into account the rates of click-through, comments, payouts, and preferences to decide on the games to lure clients most as well as determine the reasoning backing these trends. This knowledge gained from big data will assist the online casinos in choosing the games they can promote.
3. Detect Loopholes in Online Security
Another area the big data plays an imperative role in is helping casinos comprehend the main areas which are required to be enhanced for online games. One of the crucial areas to be overseen is online security as online games generally require the users to deposit online payment and extract withdrawals. Big data aids the industry in locating any loopholes in security.
4. Assists in the Creation of Marketing Strategies
One of the most significant roles essayed by big data is comprehending the requirements of clients and determining the marketing strategies that can be adopted. It allows casinos to gain more knowledge regarding bonus policies. Big data also assist casinos in determining which website interfaces, color shades, and the types of games they can include on their sites.
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With website design holding the power to control the future of an online casino the big data can assist in determining the choices of most clients taking into consideration their feedback and actions on other sites.
5. Supplies Information on Online Gambling
Big Data aids casinos in keeping track of all present marketing conditions, from the current government regulations to how the response of the competitors to these regulations. Alongside promoting the comprehension of regulations, big data also aids in the development of odds for sports wagering sites, taking into account the odds placed by competitors.
The regulation data assists casinos in strategically positioning themselves to ensure that they stay certified to function since clients normally wish to invest only in trustworthy sites that have a decent reputation when it comes to payment and which facilitate excellent services.
6. Identifying Demographics
Big data can also be employed for the task of identifying demographics. For instance, if suppose a casino holds the knowledge that the age of most of its players lies between the range of 18-40, they could try to cater their marketing approaches to reach out to other demographics, with the purpose of achieving a boost in their user numbers.
This could be done either by specifically designing advertising messages for other demographics, or applying existing approaches to the new geographical markets. Big Data becomes the weapon for casinos here as it allows them to gain access to the facts and figures to back their approach that are automatically gathered and processed.
7. Player Retention
There’s no point in luring new customers if the existing ones aren't kept satisfied. Big data enables casinos to gain the key knowledge of what attracts their customers which can effectively be put to use for enhancing retention in case any issues are detected.
This can either be done by offering better perks to certain sections of the demographics or by coming up with new loyalty bonuses which are tailormade with the purpose of offering accolades to specific sections of their existing player base. Since big data makes it convenient for casinos to detect trends in all areas, it can be adopted by them to effectively tackle their retention issues.
Big data is the key element for casino industries, particularly for online casinos as it facilitates various promising plans for enhancing businesses and the experience of players. The data has aided casinos in enhancing their performance along with boosting their customer experience.
In the case of the bigger online casinos, that hold access to massive amounts of internal data, breaking down and interpreting the results in real-time becomes possible to prompt virtual gains. At the same time, the capacity to stay updated on the impact of alterations makes it possible for casinos to invest more time in targeting valuable resources.
As the Big Data heads towards constant development, it holds a promising impact on industries and their customers, with technological advancements showing no signs of slowing down.