Advances in web and mobile technology — and the significant interruption to life that Covid brought — have made it possible for a growing number of people to embrace the thrills of gaming, in whatever form they’re accessing it and wherever they may be. But, there’s another factor responsible for transforming the iGaming industry, particularly the customer experience in this space, and that is Business Intelligence.
Business Intelligence (BI) comprises tech-powered processes, and tools such as business analytics, data mining, and data visualisation, which aid organisations in gathering, storing and analysing data. This data is then utilised to reach decisions, and drive strategy. Today, online gaming, casino and sportsbook operators too are tapping BI to improve their services and enhance the virtual experiences of their customers.
These operators would look to steal a march over their competitors by collecting user information. Such details might include which games a customer is fond of playing and why she favours those particular games over others. Having established the preferences of their users, operators can then work towards maximising the enjoyment they derive from the time they spend gaming online.
One of the ways they could do this is by personalising the customer experience. By offering bonuses based on their performance and the frequency of their online activity. This can be seen as a reward for loyalty, a thank you to the user for repeat visits to the platform.
Quite a few iGaming players are attracting new users by offering joining incentives, deposits, first-deposit or no-deposit bonuses, as well as free spins and free bets for given slots. And they attempt to retain old ones through extending cashback or reload bonuses. For loyal (and returning) customers, operators can evaluate behaviour patterns and habits, and target such users for incentives, like a VIP program, to strengthen their allegiance to the said gaming enterprise.
Moreover, insights into customer behaviour allow game developers the chance to take the gaming experience up another level, to add new and exciting elements to popular titles and make them more immersive and fun. Similarly casino platforms, which can take advantage of data on users to customise gambling activities by, for instance, amplifying or dialling down the risk and reward factor (high risk or low risk) while ensuring transparency and security on their platforms, as well as the guarantee of fair-playing conditions.
In fact, knowledge of the locations from which the bets, online slots and spins are originating gives gambling operators a window to enter new markets. If an increasing number of bets are being placed in India, then that is likely where the action is, and that is where future customers, and thus future growth, can be expected to come from. Of course, the larger the geographical spread of an online casino, the more profitable that casino’s operations are going to be.
At a time when gambling operators have to fight for customers in what is becoming a crowded online space, Business Intelligence can prove especially useful. BI can figure out which genre of games users like, whether it is slots (currently the most popular), roulette, blackjack, or any other card game. It can also find out which slots are played the most. So, operators can promote games depending on the preferences of the users. New customers can be attracted by incentive promotions.
As a further example, BI can aid a gambling outfit to discover how popular are its high- and low-stakes poker games. If the low-stakes games attract enough online gamblers to fill a ‘table’, the platform can add poker rooms to incorporate more players—and make more money.
Business Intelligence also presents gaming companies an understanding of the kind of devices on which customers are logging on to their services, and what operating systems they are using. Or, indeed, whether the player is accessing the platform via an app or a browser. This enables domain players to work on developing and also customising their products further to stay ahead of their competitors.
Besides, data mining is as much a predictive tool as it is an analytical one, throwing up a picture of trends that are dominating, or likely to dominate, the gambling industry. When these trends become clear, companies can then confidently prepare for the future.
And last but not least, the many participants in the iGaming industry have to ensure that they are up to speed when it comes to renewing licences and also up to date on the gambling and betting rules and regulations, and the conditions under which they can operate. In this respect, BI comes to the aid of iGaming companies when they have to put together reports of their operations, which are mostly mandatory for any license to be renewed.
So, it would be advisable for anyone offering iGaming services to invest in Business Intelligence. BI will allow you to see the bigger picture and become familiar with emerging trends and make it much more convenient for you to compile accurate user data and understand your clientele and the market better. Then, you can strategize and plan accordingly, and growth and profit will surely follow.
Dmitriy Belianin, CCO Parimatch International
If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com/ roy@roymediative.com, 9811346846/9625243429.
