By Deana Scott, Raving CEO
You can't open an industry publication or attend a conference without seeing a discussion about Big Data or analytics. Now, that's good news! Have we finally given the "millennial topic" a rest and could we be on our way to recognizing the need for data-driven decision-making in our operations? It appears an operational focus may be underway.
According to Raving's 2nd annual Indian Gaming National Marketing Survey released this February, respondents were asked how they were handling big data – very large and complex data sets – that require special analysis. According to researcher Deb Hilgeman, Ph.D., who conducted the study, there was a seismic shift in the results.
Last year, 54% of casinos did not have a plan for dealing with big data, and only 6% were actively working with it. This year, those numbers virtually reversed. Only 6% of casinos now are not sure what they're doing with big data, while 50% are actively working with it. See figure A above
According to Hilgeman, "It appears analytics, in general, is a top priority for casino marketers. When we did our preliminary field research this year to talk to practitioners about what we could add or change to make the survey more valuable to them, analytics was the number one topic."
These results were similar to a pre-conference attendee survey conducted during the Raving NEXT Conference held this previous January at Choctaw Casino Resort, Durant, Oklahoma. 76% of the operators listed analytics and analysis as the primary area they wish they had more time to devote to.