Dmitry Belianin is the Chief Commercial Officer with Parimatch. He is an experienced marketing strategist and leader in the sports betting industry. Over 15 years of experience in both marketing and gaming, and a proven record in building global teams, growing profits, and implementing high-growth marketing, digital, and product development strategies within the biggest gaming companies.
The rapid growth in web and mobile technology, allied with the disruption that came in the wake of the Covid-19 pandemic, saw more folks exploring online gaming/gambling options, wherever and however they were accessing the games. Yet, there’s another reason behind the iGaming industry taking off in the last couple of years and revolutionising the customer experience in this ecosystem, and that’s Business Intelligence.
Business Intelligence (BI) is essentially a series of tech-driven processes and tools—among them business analytics, data mining and data visualisation—that assist organisations in gathering, storing and analysing data. This data is subsequently employed to influence decisions and push strategy. So, for example, operators in the digital gaming, casino and sportsbook space are exploiting BI to upgrade their offerings and take customers’ online experiences to another level.
Actually, as a tool, data mining is as predictive as it is analytical. It can reveal every kind of trend that is predominating, or is likely to predominate, in the iGaming industry. With access to a virtual crystal ball, then, operators can boldly plan for the future.
So, armed with details on their users, iGaming outfits would seek to gain an advantage over their rivals. Such information would likely consider a customer’s preferences—which type of games they like to play, for instance, and the reasons why they are inclined to favour one game over another. Having ascertained users’ likes and wants, operators can focus on providing them the most fun-filled iGaming experience.
This can be achieved by customising the iGaming experience of each user, by offering incentives on the basis of past performances or on how active they have been on a certain online platform, as a way of rewarding their loyalty.
But, what exactly are iGaming players doing to catch the attention of new customers, or hang on to old ones? And what is the role of BI in all this?
For one, they are offering perks such as joining incentives, deposit, first-deposit or no-deposit bonuses, and free spins and free bets for given slots. Old users are retained via the extension of cashback or reload bonuses. Meanwhile, returning customers are incentivised through VIP programs, a chance for them to reinforce their loyalty to the brand.
Additionally, an understanding of customer behaviour and activity gives game developers the opportunity to enhance the overall iGaming experience. Through the addition of offbeat and funky elements to bestselling creations, the online gaming experience is elevated and made more fascinating. Likewise, casino platforms can make the most of user data by personalising customer activity. This can be done either by bumping up or reducing the risk-and-reward dynamic, while simultaneously guaranteeing transparency and security, and safeguarding fair-play conditions, on their respective platforms.
Further, Business Intelligence presents iGaming operators information on the origin locations of bets, online slots and spins, opening a door to new territories. So, if a growing number of bets are originating from India, it’s a fair indication that there is a market that is witnessing heightened gambling activity, and one from which can be expected future customers, and hence future growth. Evidently, the bigger the terrestrial reach of the online casino, the more financially productive the casino’s operations will be.
Business Intelligence is an especially valuable at a time when iGaming players are fighting for customers in what has become an overcrowded virtual space. Apart from zeroing in on which genre of games users are favouring—at present, slots is the most popular, with roulette, blackjack and other card games also trending—BI is also capable of figuring out which slots are played the most. This way, operators can push games guided by user preferences. And by linking incentives to promotions, they can also attract new customers.
What is more, BI can aid iGaming players to discover the popularity of its high- and low-stakes poker games. If either the latter or former entices enough online gamblers to occupy a ‘table’, the platform can then increase the number of poker rooms to include more players—and, alongside, make more money.
Moreover, if iGaming companies know which devices customers are using to log on to their services, and which operating systems they are using, or indeed if the user is accessing the platform on an app or through a browser, it gives them extra insight. This they can then use to further develop and customise their products, and showcase a superior iGaming experience that will help them stay ahead of the competition.
Finally, but no less significantly, participants in iGaming have to make certain that they know when their licences are coming up for renewal, while also keeping themselves abreast of any changes in the rules and regulations that govern betting and gambling, or the conditions under which they can legally operate. Yet, iGaming companies do not have to worry about compiling reports of their operations (compulsory for licences to be renewed), because this duty is being fulfilled via the application of BI.
To conclude, it is prudent for providers of iGaming services and activities to put their money in Business Intelligence. For, not only will BI enable you to observe the bigger picture, and familiarise you with evolving trends, it will also help you in assembling precise data on users while giving you much-needed clarity and up-to-date knowledge on your clientele and market. It follows, then, that strategising and preparing will come more easily, and so will growth and profit.