As published in Indian Gaming Magazine’s Ask the Experts Column titled “Spotlight on 2020 and Beyond”
Big data and the leverage of big data will continue to have a huge impact on Indian Gaming and the entertainment and hospitality industry for years to come. Data is such a significant part of our everyday lives and the management and analysis of big data by AI (artificial intelligence) is stunning if not a bit shocking. Like it or not, big data is watching you. Virtually every digital interaction we choose to make – things like internet engagement and behavior, tele-communications, electronic/card transactional history, social media activity, etc. – leaves a digital trail that is collected and stored. Similarly, location-based services and cell phone connections track our physical moves, from major travel activity to simple everyday actions like walking down the street or migrating through a store or a casino. Our movements are mapped and stored. It’s virtually impossible to hide. There’s certainly no hiding from the steady improvements in facial recognition software or even parking lot license plate readers. Cameras are literally everywhere. Law enforcement agencies, security companies, retailers, and casinos are implementing these new technologies that instantly connect a face or a car to a person and then to a huge wealth of data.
Big data has become a significant tool in creating competitive advantage, having a profound and positive impact on Indian Gaming. When a gaming operation knows what its guest wants; when they know what their personal preferences and spending habits are; that enterprise is much better positioned to create tailored products, services, and experiences and deliver them in very personal and memorable ways. When a guest gets what he wants, he’ll spend more, patronize more, and in many instances, drive further for the personalized experience. It’s been said that the most successful brands have an emotional connection to their customers. Big data can provide insight into demographic, behavioral and psychographic attributes like values, attitudes, and beliefs that resonate personally and culturally. Big data offers casino resorts the opportunity to create real value that connects directly to their customer base. And by the same example, when a casino knows very detailed demographic and psychographic information about the customers that it doesn’t have, the casino is much better equipped to design and deliver very targeted and tailored amenities with higher projected returns and success rates.
At HBG Design, we have been exploring and leveraging demographic, behavioral and psychographic data in order to enlighten our clients about its impact on competitiveness. Data can inform planning and design decisions that are targeted and specific. Generally, most existing casino operators know their guests through loyalty programs and surveys; which are often narrow and depend upon guest participation. By diving deeper and studying information such as detailed spending habits, income levels, travel habits, casino visitation, etc., we can improve decision-making, and uncover valuable insights that influence program, quality levels and price points. The benefits of big data are still unfolding in our industry, but the results of leveraging this kind resource are clear: higher guest satisfaction, competitive advantage, and of course higher profits.