Sky Bet has turned to Cloudera to improve its data analytics capabilities to better understand the prices that should be set for events and the needs of customers in the fast-paced online betting market.
Online betting, especially via mobile devices, is now a huge and intensively competitive market as firms such as Bet365, BetFair, Ladbrokes, Coral and many more vie for business.
Sky Bet is attempting to stay competitive by using Cloudera Enterprise to provide rapid data insights that help its trading team set prices for events as accurately as possible, especially with so much money at stake.
Andy Walton, head of data for Sky Betting and Gaming, explained that having rapid and better insights on data is vital in remaining competitive in the market.
"One of our first use cases was to help our trading department better understand our liabilities at any point in time,” he said.
“When it comes to understanding our risk, there are a huge number of permutations, but with the processing power of the Cloudera platform we can run through different combinations of outcomes and give our trading department insight that simply wasn’t possible with our previous warehouse.”
This also helps in seeing that customers get what they want, such as money back from betting offers, and determining which markets are popular so as to promote them as required.
“We can respond to what’s happening in real time and really improve customer satisfaction,” said Walton.
“Sky Bet’s analytics and business intelligence teams can also conduct ad hoc queries on the data far faster than before, and change parameters to uncover business trends and patterns.”
The platform is also being used to collate Sky Bet's various datasets, notably to generate relevant marketing promotions.
“Promotions are massively important to our customers and for our business, so we needed to deliver a better experience from our customers’ point of view,” he said.
“We can now calculate and fulfil complex rewards for over 100,000 customers in around 10 minutes instead of next day, and we’ll soon move to a world in which we process these transactions in seconds.”
Walton added that the platform should enable even more refined marketing opportunities.
“With the ability to also assess key marketing opportunities in real time, including propensity to buy, cross-sale opportunities and customer value, there will be even more opportunities to improve the end-user experience. The ability to make decisions in real time is a massive opportunity,” he said.
David Pieterse, EMEA vice president at Cloudera, added that Sky Bet's needs underlined why real-time analytics, as opposed to analyses that would take hours, are a must.
“The legacy EDW [enterprise data warehouse] had to wait until midnight each day to process the data, and because it was a big batch it would often take hours to process, so it was always working with old data,” he said.
“Now Sky Bet has access to real-time, rich datasets, and this is helping to bring more bespoke, relevant offers to customers. And as a direct result, it is increasing revenues and reducing churn rates.”
Tech firms are increasingly moving into this market to meet customer requirements. Workday recently acquired a company called Platfora to add these capabilities to its services.
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