2017 Casino Industry Trend – Big Data
In a numbers game, whoever has the most information usually ends up winning. That describes the casino industry as the house having the better odds in any game that is played. Casinos are already about the numbers, so it is no surprise that the rise of big data has the attention of casino industry leaders.
A lot has changed in the casino industry, most notably, the shift from a single stream casino-based profit center to multiple profit centers in the retail, restaurant, entertainment and hotel. A shift in the understanding of a player, focusing on a players’ gaming revenue, to a patron focus with understanding the actual value of a patron in all revenue streams.
The December issue of Global Gaming Business Magazine article listed the Top 10 Trends for the Casino Industry for 2017. It outlines that Big Data as a top trend in the gaming industry. As quoted in the article, “casinos already rely on Big Data to help drive revenue today, and this trend is growing at light speed.”
Casinos are not just using big data for their games. Much like other businesses, casinos have used it to improve on their marketing efforts. “The information will provide answers to questions like ‘What’s the value of a particular guest or guest segment? ‘Which guests are most and least likely to respond to and offer?’, and ‘What is the ratio of gaming to non-gaming spend by guest segment?’ These are all critical questions that can be easy with data analytics”.
Scott Cox, MSA’s Business Development Director in its Gaming Division, recently conducted a survey with leaders in the gaming industry on the topic of Big Data. The survey was conducted with General Managers, Vice President/Directors of Marketing and Vice President/Directors of Slot Operations.
Management Science Associates, Inc. (MSA) in business for more than 50 years, has extensive analytics, reporting and BI experience in CPG, media, health care and gaming industries, to name a few. MSA has extensive experience working with casinos in commercial, tribal and international markets. Based in Pittsburgh, PA, with offices worldwide in New York City, Atlanta, Las Vegas, Cardiff, Shanghai, Beijing and Kuala Lumpur.
How important is Big Data to your casino property? (Figure 1)
Survey results (figure 1) showed an overwhelming response that Big Data is crucial to the industry leaders. Big data can provide casino operators with a competitive advantage but requires a well-planned approach to accurately obtain, manage, analyze and leverage the information in a way that an improve bottom-line results.
There are challenges and opportunities with data. It is becoming more complicated and getting the insight at the speed of business to have a competitive advantage.
Big Data can be defined very differently between the variety of casino properties dependent on jurisdiction, competitive environment and the skill level of and amount of staff a casino property has.
What are your goals for analytics of big data for 2017?
MSA draws on its core competencies of analytics, data management and IT to craft solutions for our clients. MSA has worked extensively with data from multiple casinos utilizing different CMS systems including but not limited to IGT, Bally and Aristocrat systems. We have integrated such data and have extensive experience coding and matching machine data from multiple sources, enabling cross property reporting that would otherwise be difficult to achieve. MSA has leveraged the technology from our Data Factory, running for more than 40 years for major Fortune 500 clients.
Contact Scott Cox at email@example.com or 702-553-5801