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Please read the Overview for Module 7 and read the instructional content provided.
Module 7
Introduction
Over the past weeks, we have established that casinos operate in a data rich environment and increasingly benefit from the digital transformation of the business world. The utilization of various marketing technologies (e.g. CRM, market-tech stack, social media, etc.) enable casino operators to effectively target casino guests, customize their experiences, and help gain competitive advantage. Advances in slot technologies ensure stability in revenues (at least for now) while transformative technologies, such as VR/AR, and emerging trends, such as eSports, provide new opportunities. Technology driven opportunities also present new challenges and friction points, e.g. cyber security, data privacy concerns, and regulations.For the most part, we have perceived and examined technology as a tool. Our two case studies and related discussions clearly demonstrated how technology serves as a strategic tool but also encourages enhanced decision making.In Week 7, we will put the emphasis on decision making and explore the role of data analytics in the gaming industry. After all, as more and more gaming markets have emerged, the need for meaningful analytics have grown exponentially as most markets have significant direct competition. However, these needs are often limited by technical and staffing concerns. The reading assignment for this week will task you with reviewing best practices for data analytics. The hot topic discussion associated with this module includes less tasks than the previous hot topic discussions in order to give you time to schedule your interviews for the interview assignment.Learning objectives
After completing this module, you should be able to:Describe how predictive analytics can be applied in a casino setting
Outline the data analytics process
Explain how the benchmark process enables analytics
Summarize the predictive analytics process via examples
Read
Read the white paper titled ‘Gaming Industry: Best Practices for Data Analytics to Enhance Decision Making Download Gaming Industry: Best Practices for Data Analytics to Enhance Decision Making’.
Optional reading: Using AI/Machine Learning in Gambling Applications Download Using AI/Machine Learning in Gambling Applications(this report is not about analytics but offers examples on the use of emerging technologies for decision making)
Reply to this Discussion thread by posting a response to the following question: Do you believe predictive analytics (and similar business intelligence tools) are helpful for managing a casino during an unforeseen crises such as the pandemic? Why? Why not? When making decisions, do you rely more on tech-supported decision tools/reports or more on your gut feeling? Please elaborate.
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