As a rapidly growing industry, iGaming is at the forefront of innovative technology. As the digital wave continues to impact every industry, so too has it reached the popular gambling sector. However, how exactly is digital transformation playing a part in the evolution of this sector?
Changing the way that data is collected
Leading iGaming companies amass vast amounts of customer data, but the true benefit comes from utilising this data for analysis that can advance company performance. Acquiring the appropriate data and fully incorporating it for business intelligence at a higher level can be achieved via digital transformation.
It develops a method by which multiple functional divisions within a company can convert raw data into insights across various touchpoints. This results in a single picture of operations, finances, and commercial prospects for each customer journey.
In this process, it’s crucial to assess how client data is being gathered, saved, processed, and shared. When you’re reevaluating your tech stack, you’ll want to make sure that a layer of SaaS data encryption is used to safeguard sensitive data travelling into and out of your customer relationship management (CRM) software and other platforms.
Consider how you can give your customers more control over their data when you examine the customer journey as part of your digital transformation, leveraging data privacy as a competitive advantage. Customers are becoming more conscious of and concerned about how their data is being gathered and used. By implementing stringent privacy policies and allowing people to alter their minds at any moment, you can demonstrate that you value their data.
Manage resources more effectively
Information and resources are combined through digital transformation to create a set of business tools. Applications, databases, and software can all be unified as part of a digital transformation to create a single location for business insight.
There is more to digital transformation than one department or functional area. It covers every aspect of a corporation and can promote innovation in processes and efficiency amongst units. Every department, from sales and marketing to finance and the C Suite each make use of sensitive data. Data must be optimised and secured wherever it travels, and teams must be given simple-to-use tools to complete their tasks.
Produce data-driven customer insights
Data may be the key to unlocking helpful customer insights. You may develop a business strategy that is more centred on your customer by better understanding your customers and their wants. These insights can promote growth by utilising both structured data (personal customer information) and unstructured data, such as social media metrics.
Through empowering data, strategies may deliver more relevant, individualised, and flexible content. In the case of iGaming, data-driven customer insights can be helpful in the creation of new products to better cater to the consumption trends of your existing customers.
A better customer experience
Your journey toward digital transformation can not only increase team productivity but also give customers more fluid, intuitive interactions. This includes everything from email correspondence to user portals, digital goods, and even the frequency of your outreach to potential customers.
Consumers have high standards for their iGaming experiences. Customers are accustomed to having a huge selection of games and reliable customer service. Customer experience (CX) is the new front on which brands are competing. According to Gartner, more than two-thirds of businesses claim that their main competitive advantage is customer experience (CX). This is no different in the iGaming industry, where a huge source of employee loyalty stems from ensuring that players have the best experience possible.
Showing customers that you cherish their privacy is one approach to set your company apart from the competition. Give the client authority over how their data is gathered and used, and give them the freedom to decide how their data will be used.
Improving collaboration through digital culture
Digital transformation promotes a digital culture by giving team members the appropriate tools suited to their surroundings. These tools not only make it easier to collaborate, but they also help the company as a whole to advance digitally.
Changing to a digital culture is essential for firms to continue operating sustainably. It forces team members to upgrade their skills and learn digitally so they can profit from the digital transition.
Businesses that transition to the digital economy become more productive and profitable.
- 80% of iGaming businesses that have successfully undergone digital transformation report higher earnings.
- 85% of companies claim to have grown their market share.
- Leaders anticipate a 23% larger revenue increase than followers on average.
Organizations become more agile thanks to digital transformation. Businesses can embrace Continuous Improvement (CI) practises and increase their agility through digital transformation by learning from the world of software development. This creates a speedier environment for invention and adaptability while also opening the door to advancement.
Improved business productivity
The correct tech tools combined with efficient workflow can increase productivity. Team members can work more productively by automating numerous tedious procedures and integrating data across the entire enterprise.
Exigy is a Microsoft Gold partner and has been responsible for the successful digital transformation journeys of several key players within the iGaming industry. For more information on our solution, visit our Gaming page.
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