G2E Asia: Executives Highlight Importance of Using Data to Maximize Profits in Casinos
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At a G2E Asia panel, casino industry figures discussed the importance of collecting, processing and using data to optimize profits from within hotel ventures such as integrated resorts.
While it is a growing trend as technology advances, the use of data to drive business growth has rapidly accelerated as integrated resorts adapt to the post-pandemic labor shortage.
Panelists analyze changes in casinos generated by the pandemic
That’s the thinking of Augmentum’s EVP of Worldwide Sales, Yuen Lee, who said: “All guest parameters have changed since the beginning of the Covid-19 pandemic. The profile of guests has changed, their behavior has changed and so has technology.”
“In the hospitality industry, whether it’s a property management system or a casino management system, they are traditionally based on standard operating procedures, consisting of a complete workforce. This was in the pre-Covid era. Today, there is a huge shortage of manpower. Singapore is particularly affected by this.”
“To move forward, the parameters must change. You are now viewing roles such as Chief Digital Officer or Chief Innovation Officer. These are some of the adjustments needed to make it work post-Covid,” Lee added.
While the need to mine the data is necessary to maintain a healthy casino environment among other amenities in an integrated resort, implementing it correctly is just as important as adopting it, according to IRTS Group ASEAN Sales Head Rohan Vartak.
“When looking at an integrated resort, you need to look at the types of data available. Splitting the data, you would need infrastructure data, business data, and transactional or payment data.”
“The challenge is to streamline the data, as it is produced by multiple devices. Devices have different hardware/software. It is important to use an analysis tool to normalize the data and to understand and store data from different sources once it has been collected. It’s vital not to collect data too often, as this can put a strain on your hardware and computing systems,” Vartak explained.
Arguably, the most critical stage of using data is exposing and interpreting it correctly, according to Murphy Mathew, Senior Regional Solutions Engineer at IDeaS Revenue Solution APAC.
“Using data, you want to understand the right mix of businesses at the resort that will drive the kind of consumer behavior for maximum profitability. You need someone who can digest the data to optimize the profit you make from your resort,” concluded Mathew.
