that information in a manner that allows them to drill down to brand, product and customer- specific data. Not only does this better equip operators to understand and serve their customers across channels and geographical borders, it also becomes a powerful tool in attempting to solve some of the most prominent issues in the sector. Fraud, for example, becomes much easier to identify and address with real-time analytical tools that are more capable of detecting suspicious transactional activities. Similarly, it can also be used to identify potential ‘payment blockers’ , such as requests for unnecessary data, that can prevent customers from making successful transactions.
Although these capabilities can be built internally, gaming operators should also have access to a suitably comprehensive platform, alongside a number of back-up platforms, through a reputable and experienced payments provider. Tese platforms should have dashboards that can adequately display data and enable operators to drill down to specific data points on a case-by-case basis. Some providers are also introducing omni-channel capabilities, which enable businesses to track performance at brick-and-mortar outlets for comparison with online channels.
INSIGHT Technological capability puts gaming operators
in a position to optimise data and analytics. However, truly making the most of the analytical process comes from the data being examined in the first place. Gaming operators need to be clear on exactly what data they’re analysing and how this analysis can help them achieve their goals.
Traditionally, this type of analytic clarity has proven elusive in the gaming industry. Tis is demonstrated in the sector-wide importance placed on analysing KPIs such as conversion rates and costs, which represent goals rather than insights for improvement. A more effective approach would consider the individual components of the user experience, which can
offer tangible direction for optimising the payments process, therefore reducing abandonment at the payment stage.
In essence, more useful performance indicators would address factors such as how many customers are looking at the payments page. How many are clicking on the different payment methods? How many of these payments are going ahead? How many customers are utilising the support pages? By breaking down the user experience, gaming operators can begin to unveil their flaws and take action accordingly, which will ultimately help them to derive insights and make meaningful progress towards improving goals, such as conversion rates, in the long-term.
COLLABORATION Operators ensuring they have the necessary
platform and direction represents significant progress towards optimising data and analytics. However, getting the most of payments data is as much attributed to the attitude of gaming operators as it is to the analytics process itself.
46 per cent of cart abandonment issues occur at
the payments phase. Payment preferences are not only
influenced by the evolution of
technology, but they also differ between cultures and
geographies, and in order to
optimise a payment offering to derive local relevance,
operators need to be aware of these preferences and be able to adapt and respond
True optimisation requires businesses to be flexible and receptive to suggestions for improvement. Gaming operators should strive to collaborate with their payment providers, because an experienced and reliable provider can create value beyond the payments process.
When it comes to payments data, the PSP is the expert. Payment providers build the systems that collect, collate and analyse payments data. Moreover, providers constantly work to improve its platform and add value for gaming operators, as a more effective payment offering not only benefits the provider, but also frees up gaming operators to focus their efforts on gaming.
Te necessity for collaboration is significant in a rapidly growing gaming industry. As the sector continues to evolve, gaming operators will be forced to compete in increasingly international online and offline arenas, and can no longer afford to think of payment providers as a means-to-an-end. Operators should recognise that the role of PSPs is evolving alongside an increasingly competitive gaming industry.
Ultimately, this means operators no longer need to go it alone when it comes to collecting and analysing data, and they should begin to leverage the capabilities of their PSPs to create a more effective payment offering in a multi- market environment. To ensure they are best-placed to make the most of these opportunities, operators should establish a payments team or person within the organisation who is responsible for communications with the PSP, in order to provide greater clarity to the collaborative process.
Given the huge potential for data and analytics in the gaming industry, businesses should be doing all they can to make the very best of the resources at their disposal. By optimising the data and analytics process, gaming operators can expect to derive competitive edge and equip themselves more thoroughly as the industry continues to thrive in the digital age.
NEWSWIRE / INTERACTIVE /
247.COM P81
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