the <\/em><\/strong>hot point of the very heated Caesar\u2019s Palace bankruptcy feud with the company and its creditors, which for the purposes of this blog post I\u2019m just going to gloss over..).\u00a0 While Total Rewards is an opt-in loyalty program, customers consider the perks of being a member to be so good that approximately 80% of patrons use the card.<\/p>\n <\/p>\n
Value Creation & Capture<\/strong><\/p>\nLike most other rewards\/loyalty programs, the casino\u2019s program allows customers to \u201cadvance\u201d through reward tiers as they spend more.\u00a0 As they spend with the rewards card, customers are rewarded with meals, room upgrades, show tickets, limo rides \u2013 all the way up to complimentary stays, flights for top tier members. \u00a0The membership card is used at almost every point of contact within the casino chain, and each contact offers another point of data. In exchange, Caesar\u2019s receives a plethora of information on the customer and his\/her behavior while in the casino.\u00a0 Data mining has led Caesar\u2019s to develop 90 different customer segment classifications, each of which responds differently to different marketing approaches \u2013 again allowing for a more customer-centric approach to service.<\/p>\n
The Total Rewards program is so robust and granular that Caesar\u2019s employs a 200-person customer service analytics team based at the Flamingo Hotel in Vegas.\u00a0 With data being captured from the moment the trip is booked online, each individual customer\u2019s trip is monitored in real time (often times including location data from customers using the mobile app) \u2013 shopping behavior, meals purchased, etc. \u2013 information which allows for the casino to react much faster, deliver a best-in-class customer experience, and, ultimately, lead the customer to spend even more money.\u00a0 All offers and transactions are continually calculating\/recalculating a customer\u2019s lifetime value to the casino and all decisions made by representatives are linked back to this valuable metric.<\/p>\n
While Caesar\u2019s has certainly tapped into their customer data to improve the experience, they’ve also kept their insights largely in house.\u00a0 What\u2019s perhaps more interesting are the other external implications for the treasure trove of data they\u2019ve collected.\u00a0 With the wide range of activities visitors can engage in while staying at Caesars (e.g. shopping, dining, gaming, shows, spas, etc.), the casino is in a relatively unique position to gain a very broad view into many aspects of its customers\u2019 lives.\u00a0 While there\u2019s a play to be made for monetizing this data outside of the casino, \u00a0a move I doubt would go over well with its program members, much remains TBD with various possible outcomes stemming from the company\u2019s bankruptcy restructuring.<\/p>\n
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The most valuable asset in the Caesar\u2019s Entertainment Corp. isn\u2019t the fabulously-tacky Roman-themed resort on the Las Vegas strip.\u00a0 It\u2019s the company\u2019s big data loyalty program, valued at $1 billion. Loyalty programs are not a novel concept, and are widely […]<\/p>\n","protected":false},"author":52,"featured_media":2554,"comment_status":"open","ping_status":"closed","template":"","categories":[957,284,655,960,961,956,958,959],"class_list":["post-2553","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-caesars","category-customer-loyalty-program","category-data","category-gambling","category-thehangover","category-vegas","category-wolfpack","category-wolfpackdata"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-digit\/assignment\/data-driven-value-creation-value-capture-and-operating-models\/","yoast_head":"\n
Caesar\u2019s Entertainment: What happens in Vegas ends up in a $1billion database - Digital Innovation and Transformation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-digit\/submission\/caesars-entertainment-what-happens-in-vegas-ends-up-in-a-1billion-database\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesar\u2019s Entertainment: What happens in Vegas ends up in a $1billion database - Digital Innovation and Transformation\" \/>\n<meta property=\"og:description\" content=\"The most valuable asset in the Caesar\u2019s Entertainment Corp. isn\u2019t the fabulously-tacky Roman-themed resort on the Las Vegas strip.\u00a0 It\u2019s the company\u2019s big data loyalty program, valued at $1 billion. 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![\"Caesars](\"http:\/\/19squx2sqzlk2w3lh726rs88.wpengine.netdna-cdn.com\/wp-content\/uploads\/2015\/11\/Caesars-Operating-Assets-Values.jpg\")
<\/a>1998 as a way to marry some of the intuition based decisions made by casino operators with science-based analytical tools while continuing to attract and maintain customers.\u00a0 Total Rewards is estimated to be worth over $1 billion and contains over 17 years of data on some 45 million program