The advancements in technology are having a tremendous impact on the business world, and the gaming and iGaming industries are experiencing the most of its impact. With the increased demand for online gaming, these two industries have seen significant exponential growth, which is expected to keep growing in the long term. Speaking of reasons for this success, the first one that pops up is the use of real-time data. This type of data gives a whole new perspective, not only to the way the games are designed, but also to their marketing phase and their function.
If you are new to the topic of real-time data, keep reading, as this article explores the impact of real-time data on two industries, through discussions on how it is collected, and applied and what are its benefits. What the future holds and what are the advancements that can be expected in the future, well buckle up as we are about to find out.
The Basics of Real-Time Data
The term real-time data is, pretty much self-explanatory, it is data that is collected and instantly analyzed, as soon as it is created. Rather than being stored and later analyzed, which is the case with historical data, this type of data is sent directly to its users and is immediately available for use, making it crucial for support of in-time decision-making.
It is data that we are using every day in most random life situations, from GPS to financial transactions. In the business world of gaming and iGaming real-time data is used to improve customer service, optimize gaming experiences, etc. It is collected through different channels, such as user inputs, game performance, and game logs.
Real-time Data in Gaming
The gaming business has been significantly improved with the introduction of real-time data to the development of its products and delivering high-quality experiences to its clients. Using real-time data to track gamers’ behavior and preferences, allows gaming businesses to create and provide players with more personalized gaming experiences. Further, it can help game developers to track the glitches in the game and accordingly improve the game.
They do this simply by tracking game performance and analyzing the possible areas for improvement. Real-time data in gaming is even further developed, with the introduction of artificial intelligence and machine learning algorithms. These two together, make it easier for developers to accurately analyze large quantities of data and provide truthful information about relevant players’ characteristics.
Real-time data in iGaming
As these two industries are very similar, so is the application of real-time data within the industry. The principle is the same, players’ behavior is monitored, along with game performance and there is always space for improvement. However, unlike in the gaming industry, iGaming operators can offer targeted promotions in order to gain customer loyalty and ensure their retention. And you already know it, this is done through the creation of more personalized iGaming experiences.
Online casinos are a branch of the iGaming industry that benefits a lot from real-time data, as they have the ability to track players’ behavior, including their bets, wins, and losses. Information such as this one is used to define target groups and create target-oriented marketing strategies. Casino marketing strategies usually include free spins, loyalty rewards, or promotions.
Another application of real-time data is slot trackers, which monitor the key slot data on hundreds of slots in real-time.
For instance, with slot tracker extension players can stay up to date with key changes in RTP, and SRP in less than 5 minutes. As iGaming has grown in popularity, so has the responsibility of online casinos to create secure and transparent platforms for players’ transactions. With the use of real-time data and blockchain technology, now all of this is possible and very common in the iGaming world.
Advantages of Real-Time Data in Gaming and iGaming
The advantages of real-time data are numerous and if used properly many businesses can highly benefit from it. But let us see how it can be implemented into a business.
Targeted Marketing Strategy: As mentioned before, real-time data gives an insight into gamers’ behavior, making it easier for businesses to create target-oriented marketing strategies. These strategies usually include loyalty points, bonus rewards, or free spins. The possibilities are endless, it just takes creativity.
Increased Profitability: this goes along with the target marketing strategies, which if applied correctly will bring in new gamers and retain the loyal ones, which as a consequence increases revenue.
Personalized Player Experience: this is the connection between targeted marketing strategy and increased profitability, as targeted marketing strategies will lead to enhanced player experience, which will lead to players’ satisfaction and increase business profitability.
The future of real-time time in the gaming and iGaming industry is bright. As both of these industries are experiencing growth and are expected to continue developing in the future, real-time data must be considered an important factor in this process. It has shaped and will continue shaping the gaming world along with emerging technologies such as AI, VR, AR, and blockchain.
