Regardless of the field of business you are in, accurate data is essential to maintaining the integrity of research.
The appropriate collection of data will reduce the likelihood of error and provide a competitive advantage. The inability to perform in-depth analysis, errors in customer correspondence, lack of timely reports, and difficulty producing integrated reports are problems that most casinos face today
For example, some complicated queries can take a large amount of time to run that they never finished within the computing window that was available.
In 1997, Harrah’s Entertainment Inc. started using a business strategy that focuses on knowing their customers well, giving them great service, and rewarding their loyalty so that they seek out a Harrah’s casino whenever and wherever they play.
Key Insights from the Report
A 72 percent increase in the number of customers who play at more than one Harrah’s property, increasing profitability by more than $50 million; and a 62 percent internal rate of return on the information technology investments.
A doubling in the response rate of offers to customers
An increase in retention of just 1 percent is worth $ 2 million in net profit annually.
According to Tracy Austin, vice president of Information Technology Development, by combining product information with customer behavior, “no one can touch us.” Overall, the data warehouse is turning up nothing but aces for Harrah's. Harrah's "gamble" on technology is paying off.
C&M Software offers The RCK888 Platform, an integrated Paas that uses analytics to make sense of big data for our customers. The software focuses on privacy, security, and market leading performance to increase the bottom line for our clients.
The quality of data obtained during the data collection process is the base for data analysis. The quality and quantity of data that a business collects and how it decides to use it will impact its sustainability and market position.
Data shows whether there was any significant change in the dependent variables that the business wanted to influence. Also,they show connection between different factors that may an impact on the evaluation of strategies.
An analysis of the customer data may reveal that a customer is “past due” to visit the casino based on their previous gambling history. This kind of customer is also likely to receive a targeted message and offer in order to reinvigorate the relationship.
"Closed Loop Marketing is used to learn how to make positive changes in customer behavior.This can be used to figure out what type of campaigns provides the highest netvalue.This tool can be used to measure response rates, revenues, and change. Based on the information that is obtained, a company can learn incentive provides the most effective out come."
The mobile experience will help users find what they want in the easiest, and fastest way possible. This will provide an experience compelling enough that they will come back. Businesses can use these devices to communicate with consumers while on the move, either from local or global locations.
The functionality of mobile expands not only into social but other domains as well. Opportunities to enhance the guest experience by making it more personal, convenient, and efficient will be beneficial to both the casino and consumer.
A customer’s mobile experience should not begin when they walk through the door, but when they are a couple of miles away from your location. The moment that distance from your locality is at least 10 miles, the consumer will receive a personalized notification lets them know what is going on at the casino. A platform is used to collect the data from a variety of sources, which enables the company to know the specific customers to target.