Emerging technologies provide a tremendous value-add to casino operations, yet some casino professionals are resistant to trying out a new tool. Financial concerns are often cited as the reason for this resistance, yet operations teams continue to shell out hundreds of thousands on other types of software, like ERP systems. This indicates that under some circumstances, there is room in the budget for expensive software. Let’s talk about the real reasons casino professionals resist emerging technologies.
What Makes ERP Systems Different from Data Analytics Tools?
Something is different about the decision process to pay for an ERP system and a data analytics tool, and it isn’t the money in the bank. For one, casino operators understand the value-add of ERP systems. It is clear how an ERP system contributes toward the primary goal of the business. Your favorite ERP system has proven its usefulness year after year. Data analytics are unfamiliar territory for many casino operators, and they want to see proof of the value-add before making a commitment to try something new. That’s why GamingAnalytics.AI tells you the expected profit if you accept our recommendations, so the value-add is clear up front. Plus, the application shows you the AI-forecasted values versus actual values, so you can see the accuracy of our predictions over time.
It Is a Lot of Work to Learn a New Software Tool.
A study from Annals of Neurology showed that speaking two or more languages may slow age-related cognitive decline. Just like the human brain, businesses must continue to learn and adapt to stave off decline. Let’s be honest: a key difference between your favorite ERP system and state-of-the-art data analytics software is the learning curve. You’ve already done the work to learn to use your ERP system. Inertia encourages you to keep to your habits. However, it is dangerous to continue to exercise the same strategies over time as the environment changes. Younger generations interact differently with your business, with different preferences for entertainment. Competitors are adopting advanced marketing strategies to lure players. Put simply, if you’re not growing, you’re dying. Your competitors are willing to do the work!
Experts Can Learn New Things, Too.
Casino operators feel that the slot floor is their bread and butter. They don’t want a new tool to disprove that they already know everything there is to know about the floor. It is time to stop thinking of emerging technologies as here to steal our jobs. Machine learning really shines as a supplement to the better judgment of an experienced professional. It shows you things from a different angle, illuminating new opportunities while speeding up processes. It saves you time so that your human resources can be better spent on value-adding opportunities. Smart technologies are here to make you look good.
When you break it down this way, the resistance to emerging technologies is less about the budget than was once thought. A conversation with a data analytics industry professional can help you past these roadblocks if you recognize them at your casino. If you would like to make a plan to incorporate data analytics into your operations, give us a call at (702) 355-5377 or email customersuccess@gaminganalytics.ai.
