The Internet has changed everything. When you think about it, there are hardly any industries that haven’t been influenced by the technology and the information available to us on a daily basis.
One industry that was always thought of as being immune from this is the online casino one. However, with the advent of big data analysis, things in the world of online casinos have started changing.
In this article I will be talking about how the online casino industry uses big data analysis.
So if you want to find out how the world of online casinos is using big data, keep reading!
The Basics of Using Big Data in Online Casinos
Big data is basically data that is too large to be managed by traditional database systems. The problem with traditional databases is that they simply won’t work for very large sets of data. For example, if we were to store all the data from an entire city, or even a country, in one single database, we would literally run out of space.
This obviously isn’t viable, so instead of storing the data in a single database, we break it down into smaller chunks. These smaller chunks are then stored in multiple databases. This way we can manage the data without having to worry about running out of space, plus it allows us to access the data more easily.
When dealing with big data, this process of breaking the data down into small pieces is called “data normalization.” It simply means taking the raw data (which could be anything) and breaking it down into something manageable. In the case of online casinos, this usually involves taking the raw statistics about players’ habits and behaviors and turning them into simple summaries. Then these summaries can be used to make decisions that will affect the overall performance of the website.
For example, when the casino decides whether to offer a new slot game or not, they use analytics to determine exactly what kind of player they are trying to attract. If they decide that they need to increase their revenue by appealing to a younger demographic, they might choose to develop games that appeal to young people rather than older ones. This is because they know that the older demographic tends to gamble less frequently than the younger crowd.
As you can see, big data analysis plays a huge role in the field of online casinos. Without it, many different aspects of the business would become extremely difficult or impossible to manage.
Online Casino Big Data Analytics Explained
Now that you know what big data is, let’s talk about the various ways big data analysis is used in the world of online casinos. There are two main types of big data analysis used in the industry; descriptive analytics and predictive analytics.
Descriptive analytics is essentially statistical analysis. As its name suggests, this kind of analysis describes the current state of the system without predicting how it will behave in the future. Examples of descriptive analytics include determining the average length of time players spend playing at the site before leaving (the median time), identifying the typical age range for players, and finding out which countries tend to visit the most often.
Predictive analytics, on the other hand, predicts the behavior of system based upon the past patterns. Predictive analytics can be used to identify trends, such as the fact that players who live in certain areas tend to gamble more frequently than those who don’t.
Both of these kinds of analyses are crucial to the success of an online casino. Without them the casino wouldn’t be able to properly judge the effectiveness of marketing campaigns, develop new products, or otherwise improve customer service.
Using Big Data to Analyze Your Marketing Campaign
It goes without saying that one of the biggest challenges facing an online casino is attracting new customers. By analyzing your existing customer base and determining what players like, you can use this information to create new promotions and marketing strategies that will bring in new players.
For example, if you notice that a lot of your regular players come from Brazil, then you can start offering special deals exclusively to Brazilian players. You can also send promotional emails specifically targeted towards Brazilians to try and get them to play more frequently.
You can do the same thing with specific regions, like the United States. Or perhaps you want to target specific ethnicities. Whatever you decide to do, you should definitely take advantage of big data analytics to help you decide the best course of action for increasing your profits.
Analyzing Player Behavior
Another important use of big data in the world of online casinos is in terms of player behavior analysis. For example, if you notice that players who visit your site from California tend to win more often than those who come from somewhere else, you can adjust your website accordingly. Maybe you change the odds of certain games to be less favorable to Californian players, or maybe you add additional bonus rounds to entice them to return.
By looking at the stats available to you through big data analysis, you will be able to figure out what works best for your business. You can then use this knowledge to continually tweak your games and other offerings until you achieve maximum profitability.
Keeping Track of Transactions
Finally, one of the most important uses of big data in the realm of online casinos is in terms of transaction monitoring. Let’s say that you have a gambling addiction and you are constantly losing money at your online casino. What happens next? Well, since you already know that you are a compulsive gambler, you might consider going back to the casino whenever you lose a significant amount of money. After all, you might just be able to recoup some of your losses through winning streaks.
However, if you were to go back to the casino every time you lost an insignificant amount of money, you would soon begin to rack up a debt from which you may never completely recover. Instead, it makes much more sense to track your transactions so that you only go back to the casino when you actually need to withdraw money.
This is where big data comes in. With the right tools, you can track every transaction made through your website, which means you will no longer need to rely on your memory to remember how much money you put in each month. All of your transactions are now recorded in a central database, making it easy to analyze and monitor your progress.
Once you have analyzed your transactions, you can then apply this information to your strategy and make adjustments to your business model accordingly. For example, you might realize that your average monthly earnings are less than what you originally expected, so you might lower the payout percentages slightly to encourage higher wagers.
This is just one of the many ways in which big data analysis can benefit your online casino.
I am a professional blogger and author of Casino blog. I simply love to write about casino sites and their promotions. I am very passionate about casino gaming and I am here to share my knowledge to people who love this site and the game.