Gambling – the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods – has been with us since ancient times. Greek mythology tells the story of Poseidon, Zeus and Hades dividing the world between them in a dice game; Poseidon won the sea, Zeus the heavens and Hades the underworld. The land, I suppose, was left to the rest of us.
Gambling has, of course, changed dramatically since those ancient times. Today’s casino operators are faced with a gambler who is much more sophisticated than the ancient Roman soldier who tossed a coin in the air and called “Heads or Ships.”
To succeed in today’s highly competitive gaming landscape, casino operators must understand their customers like never before. Luckily for them, we have entered a brave new world of gambling and entertainment where customers knowingly – and oftentimes unknowingly – leave clues to their gambling behavior. Player cards allow casinos to get a deeply personal view of their patrons, a view that can reveal not only the patron's gambling habits but also their dining, spa and shopping spend throughout the casino property. Predictive analytics can analyze this data, quantify every dollar a customer spends on property and then predict the customer’s unique value to the casino, while also providing clues that will make marketing campaigns directed to this individual much more effective than scattershot direct mailing campaigns.
Intensive competition in the gaming industry is making it more and more important for casino operators to not only pinpoint the small percentage of players who make up a large percentage of their profits, but also to create a long and lasting relationship with these players. By learning about a customer’s unique wants, desires and needs, a casino property can market directly to those wants, desires and needs, thereby making their marketing efforts much more effective.
Double Down On Your Data was written to show casino management how to best cull through their in-house patron data to discover who their most profitable patrons are, and also to show them how to market to these individuals to create a long, lasting and highly profitable relationship.
Double Down On Your data will help casino executives understand all of the current tools available to casino operators; tools that can help them understand their patron's better; tools that can help them create better prediction models; tools that can help them market to their players more effectively; and, most importantly, tools that can help them raise their casino's ROI.
Gambling has been with us since ancient times and it will undoubtedly be with us forever; it is just too ingrained within the human psyche to ever go away. Double Down On Your Data concludes with a description of an ideal solution that gives casino managers a clear understanding of their patrons. A solution design