Innovative Ways to Utilize Business Intelligence

February 20th, 20120 Comments »

For any industry worth their salt,  a great deal of time is devoted to finding Innovative Ways to Utilize Business Intelligence.  Smaller companies may simply employ an analyst or two to delve into any available information,  generate reports and present their findings while others devote entire teams to aggressively analyze and utilize any and all available information.

In the Gaming Industry, similar strategies are followed in finding Innovative Ways to Utilize Business Intelligence to gather,  store and analyze information.  Just about every casino nowadays utilizes a player tracking system and many casinos have gone a step further by purchasing additional software that works hand-in-hand with their current player tracking systems in order to more easily have access to detailed information.  The cost of such systems are readily offset by the valuable information they provide.

The key item missing is how to fully utilize the information before it is entered in the system. Currently many of the Innovative Ways to Utilize Business Intelligence within the casinos happen AFTER the patrons signs up for a players card.  Imagine the benefits to both the Player and the Casino if valuable information could be culled before the patron either makes their way to the players club to sign up or is targeted by a casino host.  Sure there are “Hot Player” monitors and Casino Hosts roaming the floor who are supposed to monitor this information and attempt to sign the players up for a card. Does this always happen?  Of course not..

This “pre-infomation” is simply not fully utilized and,  if you really think about it is a tremendous area of opportunity.  What if a customer in the casino was playing for 4 hours and was not targeted by a host until their last 10 minutes of play?  They might not even be deemed worthy of a casino host visit because the last 10 minutes of their play at let’s say a different machine  showed gaming activity at a  level that would not warrant a visit by a Casino host…if indeed one was even available. The host, if properly trained should make appropriate notes in a new players account about their play before they received their card however that does not consistently occur, relies on the human factor and the vast majority of this information would likely be “lost”.

So how is this “pre-information” obtained?  A great example is the retailer Target.  Target assigns each customer a unique number when they are checking out at the cash register.  This customer number enables Target to analyze the contents of their shopping cart. At this point they do not even have a name.  And then the “magic” begins. Did the customer use their credit card when making a purchase? if so, there is now a name attached?  Has the customer filled out a survey?  Since the survey asks for the receipt number, the information can now be attached to a name based on their customer ID? Ditto for coupons.

Target is quite innovative and sends out emails and open surveys where it gathers demographic information and then they take it to the next level by purchasing information about a customers ethnicity, job history, magazines customers have read,  if they have ever declared bankruptcy or got divorced, the year a house was purchased or lost, college attended, what kinds of topics they talk about online, whether they prefer certain brands of coffee, paper towels, cereal or applesauce,  political leanings, reading habits, charitable giving and the number of cars they own.

Imagine the possibilities for Casinos! From creating truly unique yet focused player events sure to garner return visits to the possibility of really knowing the tastes of your consumer base and tailoring offerings accordingly, the possibilities are limitless and certainly well worth exploring.

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About Chellie Cervone

A Las Vegas "native" by way of New York, I'm a professional blogger who favors all things Las Vegas and offers a unique, witty and sometimes controversial perspective. You can count on me to tell it like it is. Please visit my other sites Las Vegas World News and Celebrity Feast Connect with me on Google+ Chellies World on Google+

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