22 Sep Global tourism is a multi-billion dollar industry, with thousands of competitors. Some of these organizations use data analytics to create opportunities for millions of tourist to visit their properties, buy their products, and use their services
Global tourism is a multi-billion dollar industry, with thousands of competitors. Some of these organizations use data analytics to create opportunities for millions of tourist to visit their properties, buy their products, and use their services. One of these companies that compete on data analytics is Harrah’s Hotels and Casinos (simply known as Harrah’s).
Harrah’s business continues to grow while their competitors are falling behind. Experts feel it is Harrah’s use of data analytics that gives the company an advantage over the competition. Harrah’s uses data analytics in all facets of their operations, from customer guest services to dining, gaming, restaurant, and promotions.
In the article that you read this week, you learned that Harrah’s has a loyalty program that offers gifts and rewards to loyal customers. Harrah’s segments their guests within their loyalty programs, so that customer’s loyalty levels are based on the amount of money that they spend at the casinos. Therefore, the more money a customer spends at the casino, the higher “level” they reach in the loyalty program, and the more expensive the gifts are that they receive. Their loyalty program is one way that Harrah’s maintains customers through data analytics.Harrah’s captures a great deal of data about their customer’s behaviors through their loyalty cards and programs. Each customer is assigned a “rewards card” that can be used to record the amount of money a person is spending, and to allow customers to redeem gifts and promotions the casino offers. These cards are often inserted into slot machines (or handed to a pit boss at a gambling table) to measure the amount of money and time spent at an activity.
You have been contracted as an analytics consultant for Harrah’s. Harrah’s stakeholders have expressed interest in the increasing their customer retention. The company wants to better understand the relationship between customer loyalty and guest retention.
Create a recommendation addressing Harrah’s interests that includes answers to the following:
Which data points or variables would you recommend that Harrah’s focus on to analyze the relationship between guest retention and guest loyalty?
Of the seven methodologies that were covered in this week’s required reading, which do you feel is the best choice for Harrah’s to use moving forward in order to continue to track the relationship between guest retention and loyalty?
Research data models and data modeling software:
What type of data modeling planning steps would you recommend? Why? Consider what you would include as part of your data model and discuss planning accordingly.
What type of data modeling software do you feel is the best package for your data modeling recommendation? Why?
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