Data analysis: Behind the scenes with Flow Gaming
Data analysis: Behind the scenes with Flow Gaming
Nick Hill, head of sales and business development at Flow Gaming, says operators must leverage modern tech platforms to make better use of the data they gather.
“Online casino, poker and sportsbook operators fully understand the importance of data and that it must be the driving force behind all decisions made on product, service, marketing and strategy. But few know how to effectively segment, analyse and action the reams of information gathered on a minute-by-minute basis.
The data operators have at their disposal is vast, powerful and hugely valuable. It illustrates player habits and preferences, emerging trends, highlights unusual activity, and proves what is and isn’t working across all key areas of the business. But if it is not gathered, analysed and presented in the right way, it is effectively useless.
To make the most of this information, some argue that operators need a platform that collects the data but allows them to roll up their sleeves and play around with the numbers. That by having full access to all the information they can make their own deductions from what it is telling them.
But to do that, operators must build out a team of data experts that can decipher the numbers and stats, and translate the information for senior management and key decision makers. And while some operators have opted to go down this route, it is not the most effective and efficient way of going about it.
Modern technology platforms come packed with innovative tools and features that do most of the heavy lifting when it comes to data. From start to finish – segmentation to action – the process is pretty much automated with limited human action required, unless a more hands-on approach is desired.
To do this, it’s important that data is correctly segmented from the outset; it needs to be put in the right box so that it can be used more effectively to guide operations and marketing. There are so many different types of player, with unique preferences and requirements, hundreds of categories are often required.
They can be segmented across countless parameters; the time of day they play, the frequency they play, how much they wager, their age, location and gender. Do they play slots or table games, do they favour branded games or those found on the casino floor – and that is just the start.
Once the data has been gathered and segmented, it must be displayed in a way that is clear to read and understand. Graphical representation is often the best way of doing this, but the most important thing is that operators and marketers have access to it 24 hours a day, seven days a week, 365 days a year.
This means their platform back office must be able to run seamlessly across desktop, mobile and tablet devices. Online gambling is a global business not bound by a particular time zone, meaning trends can emerge quickly any time of day and night, and managers need to be able to react instantly.
It is vital, then, that data is available in real time so that operators can see what is happening spin-by-spin, second-by-second and make quick-fire decisions as and when they are required to.
This is particularly important for operators in new and emerging markets such as Asia, where they don’t necessarily have historical data to fall back on. New markets move quickly as players find their feet; many have to overcome trust issues before trying new games and products.
This makes gathering data, segmenting it and effectively analysing the information even more important than in established markets where trends and preferences are generally understood and set. It allows operators to fine-tune their proposition to ensure it meets player demands and expectations despite them changing rapidly.
To do that effectively, however, the back office must be nimble and flexible so that it can be customised to local markets and the support staff using it. From switching between currencies to automatically translating into different languages – such as Mandarin, Thai or Korean – operators must work with world-class tech.
In Asia, and other markets around the world, those that leverage the power of state-of-the-art platforms and back-offices to fully understand data and use it to drive strategy and decision making will empower themselves, and in doing so gain a huge advantage over their rivals.
The technology is certainly available, it’s now down to operators to make better use of it.”
Totally Gaming says: Online operators now have access to more data than ever before, but in order to grow their business they need to ensure this data is being effectively gathered, analysed and presented. Success here comes not only through the adoption of the latest tech platforms but also through the expertise of data specialists, who can turn these raw figures into valuable business information.