There is so much data out there these days in so many systems. Knowing where to start can sometimes be overwhelming. In this article I would like to give you a simple guideline to get you started. If you have standard reporting in place, hopefully these are some great reminders, or you will learn something new.
- Start with just a few reports that are actionable. Only start with as many as you can act on. You can add as you go.
- Start with one system – preferably your slot system. If you have many different systems that are not talking to each other at all or well, then start with reports from one system, start with your slot gaming system. This will have the most actionable data and is the system reporting your core sales product. As you develop and grow, adding more systems to a warehouse will give you information based on your business as a whole and help you understand true guest spend.
- Review the reports with a well-rounded team. I see too often where only marketing or finance review the reports, and do so separately. Engage in a monthly meeting where all the executives/department heads are together reviewing and discussing the results. When the whole team is working towards a goal; where slots, marketing, F&B, hotel, etc., are engaged together, that is where the difference is made.
What reports should you start with?
There are many reports out there and many versions of each type. Some systems come with reports included. Each department will want to see different reports, but there are some that are high-level focused that will help everyone understand the business. I would start with those reports first. You probably already have a “flash” report that comes out daily. What else would be good to know in order to drive business?
- Trending report – Business trending reports are good to show period-over-period or year-over-year how the overall business is going. The report should show metrics, including theo win, actual win, player count, player visits and free play, comparing a current period to a prior one. It should also group people by demographics and play buckets. Action – Find the areas where there is growth and areas of opportunity, and make strategic changes to the marketing plan.
- New sign-up and conversion report – The point of a players/loyalty club is to build and maintain the guest base. Reviewing how many sign-ups happen each month and also knowing how many of these new sign-ups turned into returning guests is important. Action – Player development should look at high-end players who did not return. Database should market to new players and also those who did not return in order to drive another trip. If sign-ups are low, what changes should be made to the club or marketing?
- Slot reporting – Some or most of this data may be included in your flash or daily report. It is important to understand key slot metrics, like theo and actual hold percentages, win per day, average bet and others. Action – Use this data to learn which are the best/worst performing games, which are the best/worst popular games, which are the most or least expensive games on your floor. The answers to these questions will guide floor moves, purchasing decisions, changes to hold percentages and how free play is impacting the floor. Note* As you get to a place where you have player data merged with the slot data in a warehouse, adding player preference to this data is valuable. You are then able to add the player element to your purchase and move strategy. Also, knowing WHO is impacted by moves or games removed and partnering with marketing adds an element of guest service that raises the bar.
- Marketing reports – There are many marketing reports. Start by being consistent with post forma reports from your promotions and marketing campaigns. Action – Run a post forma/redemption/ROI report after every program and complete a review to see what worked and what did not. Take the information learned and use that to make strategic decisions about future campaigns
To wrap up: Start simple, add one report, do the action and be consistent. Then add another report. Make it simple and grow with the process. Once you have some consistent basic reports, add more complicated reports by combining systems together through a data warehouse. The most important piece though is to take the action on what you learned from the reports and be consistent.