Self-help: Gaming organizations already take steps to manage the activities of self-identified problem gamblers. Data analytics can take this a step further by potentially enabling organizations to determine when problem gamblers are most likely to visit the casino (days, time of day), and heighten vigilance during those times.
Casino optimization: Tracking metrics such as which machines, games and tables are most popular and when they are busiest can help you make better decisions around when to open them, how many to open at any given time, where to place them and how to manage on-floor staffing requirements. This can help optimize the overall gaming environment and deliver improved revenue and reduced costs. While many companies already track this information, data analytics can help you do it faster by delivering more precise results.
Value trumps expense
Implementing data analytics solutions requires investment, but the assertion that it’s “too expensive” does not reflect overall value and ROI (return on investment). In fact, data analytics investments can often see payback in one or two years. For example, consider the savings to casinos and lottery organizations if real-time fraud detection techniques identify a pattern and stop a perpetrator before their transaction begins. There are also gains to be had around reputation preservation and patron experience.
Next steps to stay analytics-ready
Staying primed for the analytics age is challenging, as the field itself and related best practices—around data quality, accuracy, ownership and collection and storage methods—are constantly evolving. As a starting point, organizations should:
• Identify issues that justify an analytics initiative
• Determine organization-specific key performance indicators (KPIs) and create executive dashboards
• Build a detailed analytics strategy and roadmap
• Stay on top of the latest tools and technology
• Ensure privacy concerns are top-of-mind
With the right approach, technology, and governance, gaming organizations can leverage analytics value now while staying primed for the advanced capabilities to come.
To learn more about leveraging data analytics in the gaming industry, contact Sanjiv Purba (firstname.lastname@example.org), Partner, Advisory Services and Financial Management/IT Advisory lead for Business Intelligence and Big Data at KPMG or Lesley Luk (email@example.com), Senior Manager, Audit, Technology, Media and Telecommunications, KPMG.