Poor data quality costs the United States economy trillions of dollars annually, which is why the growth of the big data analytics market has been so revolutionary. By 2027, the big data analytics industry is forecasted to reach $103 billion, and over the past few years, it has helped several industries in a multitude of ways, from healthcare and finance to meteorology. Interestingly, data analytics technology has also helped the online casino industry, otherwise referred to as the iGaming sector.
Online Casinos Use Data Analytics
Online casinos are a business, so like Amazon or Facebook, these platforms want to collect data on their customers so they can understand their needs and interests better. Learning what casino games are played the most, how much money is spent per user, and what motivates individuals to stay on the site helps casino operators improve the overall gaming and user experience. That is a win for the audience since the gaming experience is tailored to them. However, access to customer data also helps casino operators improve the effectiveness and focus of their digital marketing efforts. For example, if the data collected indicates that the Rainbow Riches slot game is the most popular, casino operators could focus their marketing efforts on creating a campaign about this game.
Other Technologies Adopted By The Industry
Of course, it is not surprising to see the online casino industry capitalizing on data analytics technology. Viral and revolutionary technologies have long been used in the sector to attract and retain users, and one of the best examples is live streaming technology.
While gamblers like the ease and accessibility of online casinos, some also miss the authentic atmosphere of a land-based casino and having a real dealer rather than an AI generator. This is one of the main reasons why almost every casino operator has implemented streaming functions. For instance, live dealer games are streamed live from a studio, and a real-life dealer is handling the action on a screen that players can interact with. Typically, the players type their comments into a chatbox, and the dealer responds in real-time. According to the review site Casino Smash, live dealer casinos follow the same rules as traditional casino games, such as winning combinations and betting rounds. The only difference is they are not controlled by artificial intelligence.
Additionally, augmented reality and virtual reality are two other technologies online casinos have adopted. Again, it goes back to trying to create an authentic, real-world gaming experience for customers. Many casino operators use AR/VR software to make the graphics, imagery, and other gameplay elements more realistic. The emphasis on creating realistic gameplay is something we are seeing in video games as well.
The online casino industry has grown into a billion-dollar market with the help of new and reliable technologies like data analytics, live streaming, and virtual and augmented reality. Considering new technologies are emerging all the time, it seems likely that the online casino industry will see even more changes and improvements in the coming years.