How do Online Casinos Take Advantage of Advanced Data Analytics Systemsby Analytics Insight September 29, 2020
Data Analytics systems are comprehensive software programs that employ the science of analysis to find patterns in raw data and provide actionable information after drawing conclusions. In theory, they can predict, to some degree, a subject’s future behavior.
Why are Data Systems important to casinos?
They are important to Casinos because they provide insights into the spending pattern and general behavior of their patrons or casino guests. They help answer questions like;
- How much is a patron worth and how much is he or she willing to spend in the casino
- How much will they probably lose in the future?
- Which guests typically bunch together?
- Which guests are most likely to accept deals or offers?
- Do any of the guests need help?
With all these questions answered Casino management can form strategies that specifically target individual customers or visitors. Offering them special privileges encourages them to patronize the establishment for longer, while still maximizing profit and maintaining customer satisfaction.
How much are the patrons worth and how much are they willing to spend in the future
Humans are creatures of habit, and analytical systems are especially gifted at processing those habits and spitting out actionable information to a casino’s management team.
After securing information about the client‘s estimated income, name, etc, and cross-referencing it with his or her spending habits in the casino, their overall worth can be easily determined. For example, Clients that frequent the casino more, spending money on accommodation, feeding, and playing will be more valuable than people who come in once every month or six months.
How much will they lose in the future?
Less-skilled gamblers have a propensity to throw tantrums and take their business elsewhere upon failure. Data analytics allows you to get ahead of those potential meltdowns and ensure they don’t happen or incur very little damage in the event that it does. You can offer extra credits, increased benefits, etc. and prevent losing customers if they are considered valuable to the casino.
Which Patrons bunch together?
It’s not uncommon for casino goers to visit the casino floor as a collective, whether online or offline. These sorts of people typically have plans in mind and tend to spend more or less, or play aggressive or non-aggressive, depending on the people they have in their company. Gathering information about them allows casinos to target them with offers, deals, or ads to interesting products or packages.
Which guests are most likely to accept deals or offers?
Different guests react to casino gifts or deals in different ways. Data analytics can help a casino management team create more enticing offers to guests better.
Do any of the Guests need Help?
Casinos, physical or otherwise, are a place of fun and adventure. When a customer’s habits get out of hand, and his/her patterns become worrisome, analytics will help management monitor and hopefully treat the problems before they compound.
How Do They Gather information?
Casinos gather information and feed it to Data Analytic Systems through surveillance. Surveillance typically entails camera monitoring, player use information, services log, etc. In rare cases, third-party websites or services are employed to obtain more information on the client.
Online Casinos using Analytical data systems
Historically Data Analytics was more localized and limited to large and small-scale physical casinos that offer multiple services aside from slots, table games, and card games. But in recent years, the principles of Data Analytics have been transferred over to pure online casinos.
On such an interactive platform, data can be more easily gathered from numerous sources, and more predictable or detailed data can be extracted and be processed to establish concrete, actionable patterns.
Top paying online casinos already implement this strategy and target customers by offering free spins, bonus wins, and VIP items, and a host of other prizes. However, some quite haven’t yet and are oblivious to the inherent benefits of studying their target markets to better provide for their needs and maximize profits.
Data analytic systems are not only valuable to the casino owners, but they also aid the guests by effortlessly improving their overall experience.