Big data is being utilized by almost every industry in organizations around the world. We take a look at what exactly big data is and how it is revolutionizing the way in which the online casino industry understands players, predicted trends and personalizes the gaming experience.
What is big data and how is it used?
Technology is developing at lightning speed and innovations that were considered world changing just one decade ago now seem very basic when compared to the devices, software and Artificial Intelligence that we use today. We are now entering the era of digital transformation and at the forefront of that is big data.
Big data is the quintillions of bytes of information that is passed between machines and devices, we all benefit in some way from the insight and knowledge it provides. Big data has many advantages and can be used to spot traffic jams and plan journeys, to predict weather patterns and even in the creation of living-saving treatments for healthcare emergencies.
The online casino industry has benefited from big data in a significant way. It has enabled casino sites like 888 Casino Canada to thrive and achieve substantial growth over the past few years. The industry utilizes the data to understand what players want, how to market to them and how to keep them safe when gambling online.
Here is an in depth look at the specific ways in which big data is now used by online casinos:
Understanding player preferences
Every online casino wants to be able to understand what its players want to experience during their time playing on the casino. Big data allows them to process a range of information on individuals.
Such information includes basic demographics like the players age, job, income level and location. It also provides useful insights into the types of games they are most likely to play, the time of day they play most, how much money they wager and how long they spend on each game.
All this information can be processed to create a profile on the player and user experiences can then be tailored specifically to that player profile. They may be offered incentives that the site know will appeal to their interests in order to encourage customer loyalty and player retention.
Bolstering online security
Another way in which online casinos are able to use big data is in their cybersecurity strategy. Online casinos process sensitive customer data, including payment details, making them particularly vulnerable to cyber attacks.
Analysts can use data to monitor systems and networks to find any weaknesses open for exploitation. If malicious code is somewhere in the network, IT teams can detect it and begin remediation efforts.
If potentially harmful activity is detected on the site, the IT or network security team can act swiftly to revoke a threat actor's access. Many of these monitoring and security actions are automated to help keep threats at bay as they emerge.
While big data is not a cybersecurity solution by itself, it is an essential part of the toolkit used to keep online casino websites secure.
Carrying out competitor research
Big data can even be used to help an online casino to maintain or gain a competitive advantage. In the same way in which an online casino collects data on its player, they can also collect valuable information on competitor sites.
They can find information about a casino site’s players and how they interact with the site. This data can then be used to improve the online casino’s own platform. In the past, without access to big data competitor profiling was a long and laborious task but can now be carried out in shorter timeframes and with lower resource requirements.
Collecting advanced marketing analytics
Lastly, another way in which big data can be utilized by online casinos is in their marketing and advertising efforts. The information on player preferences and the way in which players interact with the site and use the internet can help to inform multilevel marketing and advertising campaigns.
The marketing department is able to use this data to create campaigns that target very specific demographics and tailor their messaging and delivery to their intended audience. Analytics tools are very helpful in identifying how successful a marketing campaign has been in attracting new players and can be used to improve and adapt the overall marketing strategy.
Online casinos have a responsibility to ensure that they comply with privacy and data protection laws in the country or countries that they operate in. Processing such huge quantities of data means special care has to be taken to protect every player’s right to privacy and control over the way in which their personal data is utilized.
What can we expect in the future application of big data? Big data powered technologies and innovations are still relatively young and so we can expect the way in which data is collected, stored, processed and utilized to continue to develop in the years ahead.