The Use of Analytics, Big Data and Data Science in Online Casinos
The iGaming industry is becoming one of the most profitable industries in the world. As more and more players are joining the online casinos every day, the growth sometimes seems virtually unstoppable. Online gambling industry is estimated to gross $20 billion worldwide.
Big data analytics and data science play a major role in the online gaming industry. They are used to enhance the customer experience, maximise advertising, etc.
Data analytics and its use in online casinos
Online casinos collect a huge amount of data to intensify marketing campaigns and provide customers with what they want. They can make adjustments to their advertising based on that specific data taken from their own customers. Reputable live casinos in the UK collect data in a legal and safe manner. They are more careful while collecting your data as they are inspected by the government.
Nowadays, online gambling sites seek information at a more personalised level. They emphasise on analysing customer loyalty, which is based on the individual experience of a customer visiting a site. This allows online casinos to know which of their games and bonus offers appealed most to their customers.
Casinos use web analytics to capture meaningful analyses from the flow of website data. This data is used to provide a picture of web traffic and it also contributes to business development. Customer profiling is used to offer targeted suggestions to customers. Web analytics contribute to business enhancement by keeping a track on social media activity and collecting information about themes related to business.
The aim of casino analytics is to predict the future worth of each player. The in-depth profile of gamblers is used to target marketing and delivering the right offer to the right individual becomes easy.
Analytics can project profitability into the future by looking at average bets over-time etc. This identifies the most valuable customers and warns about irresponsible gambling habits. Further perspectives are gained by comparing gambling traffic to external conditions. Some top live roulette casinos in the UK are also offering online incentives like live roulette bonuses. These rewards are offered as a part of their promotional activities and to attract players to play live roulette games in their online casinos.
Big data in the online gambling industry
The gambling industry has come a long way towards full digitalisation since 1994. Most players prefer a personalised service while gambling online. Big data is one of the most effective ways to deliver a customised experience to each gambler. This enhances customer experience and encourages players to visit the casinos more often.
Online casinos determine winning patterns and point-scoring of previous customers using big data. This enables them to work out the best and most accurate odds for their customers and companies are up-to-speed on player requirements.
Knowing what people want to play has an obvious advantage as casino game providers can make a profile on who plays what. This allows developers to make informed choices and decisions.
Data science applied to online casinos
Online casinos can only prosper in the gambling industry if they have returning customers. There is a delicate balance between players and data science because customers will leave if they don’t win substantial payouts from time to time, while online casinos would soon go broke if every gambler always won big. Business competition is also considered because players will gamble at other online casino sites if they think they are getting a better customer experience and are likely to gain more profitable returns.
With the technology allowing ever more sophisticated evaluations, Data science allows casinos to improve their customer service and user interference.
SummaryName: The Use of Analytics, Big Data and Data Science in Online Casinos
Author: Stephanie Regan
Published Date: 29/08/2019