Predictive analytics supports better customer insight and business planning
Smart Vision Europe has worked with clients in the gaming and leisure industries to help them better understand and predict their customers’
behaviour. Such organisations can also use predictive analytics to build more accurate models of seasonal patterns of demand, thus improving asset utilitisation and enabling better financial planning.
Understanding customers better delivers higher profitability
We have worked with some of the largest and most respected brands in the gaming industry, helping them build effective models for understanding customer behaviour, with a particular focus on analysing customer value both within individual transactions and also in terms of longer customer life time value (CLTV).
Customer behaviour and value modelling was achieved through the use of customer loyalty data and the activity known in the industry as ‘comping’ – the award of free goods and services in recognition of ongoing customer activity.
This analysis enabled our clients to build highly detailed models to predict customers’ behaviour whilst gaming. The insight gained from this meant the client could make changes to the way the customer experience is delivered and to the loyalty reward policy, better matching the different approaches to the most suitable groups of customers.
The end result is a more enjoyable experience for the customer and a more profitable episode for the gaming establishment.
Understanding the performance of individual properties or assets to improve profitability
We have been involved in gaming and leisure projects at two levels – the customer and the asset level. As described above, we have helped organisations to analyse individual customer behaviours, identify homogenous segments of customers and understand their associated patterns of activity.
We have also been able to help gaming businesses understand the profile and activity of specific properties such as a particular casino, leisure club or other facility.
Modelling data such as seasonal patterns of trade, types of products offered and sold, membership cohort data, promotional data, tariff data at individual properties makes it possible to develop comprehensive models of how specific properties operate and perform.
This type of analysis and modelling means businesses can plan their marketing and promotions much more effectively and efficiently, as well as better managing staffing levels, supply chain planning, and almost every aspect of general operations. This then provides the opportunity to optimise the business’s portfolio mix and develop a clear strategic plan for the organisation as a whole.
Predictive analytics has many benefits
Predictive analytics helps gaming and leisure organisations deliver significant improvements in efficiency and overall profitability.
- By understanding customer behaviour better and being able to predict preferences and activities, our customers have been able to improve the efficiency and effectiveness of their marketing and promotional activity thus delivering better returns on their marketing investment.
- By profiling and modelling the performance of individual properties and facilities our customers have been able to make better strategic decisions related to how their asset portfolio is managed and organised leading to cost savings and improved performance of the asset portfolio at large.
Contact us today to find out more about Smart Vision could help your business reap the rewards of predictive analytics.