Place Your BI Bets on Big Data

Author: | Category: Industry Trends | Tags: Big Data, Analytical Insight, BI, Business Intelligence | Published: 6/3/2015

Place Your BI Bets on Big Data

Big data is in places—and used in ways—that you might not immediately think about. For instance, take the casino gaming industry. You might think of big data in terms of predicting odds or improving the chance of winning. However, you might not necessarily think about big data in terms of many behind-the-scenes casino operations. Casinos, however, are just one example of how various industries today increasingly capture and use data to steer and personalize customer engagement, to engage in fraud detection and protection and, in general, to continuously improve an experience, among other uses.

Of course, casinos, like any other company, sector, or industry, must strictly adhere to regulated privacy and data-security laws, measures, and practices. With a regulatory, trusted, governed system in place, however, opportunities for using big data and individualized analytics in the casino industry can pop up faster than you can say “Jackpot!”

For instance, sensors are typically embedded into gambling chips to track how much money a particular table in a casino is generating or losing. It’s possible to figure out how much each person spends, which table a person has gone to in a casino, what drinks they ordered while at the table, and aggregate various types of information to personalize and customize the experience, based on someone’s behavior or habits. For instance, a particular drink might be offered, or the casino might even give a special gift or promotional offer, if someone has lost money at the gaming tables or slot machines that day.

On the fraud-detection side, casinos can track suspicious gaming activity of gamblers, and the actions of a dealer at a gambling table can be monitored to ensure that all transactions are handled correctly.

Other uses of big data in casinos include optimizing how slot machines perform, as well as tracking which games and slot machines are the most popular, and which ones are losing popularity over time, and might need to be replaced. Using data visualization heat maps, casino operators might even rearrange where certain machines are in the casino, to optimize the overall experience.

As these examples show, you can bet that big data — and the analytic insights and meaning derived from it —can pay off for everyone involved.

Original Article: https://www.linkedin.com/pulse/place-your-bi-bets-big-data-omri-kohl

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