Video gaming has become one of the world’s largest recreational activities. Many people now have at least one video gaming console in their home and at least one video game app on their cell phones. In 2020 alone, there were over 1.5 billion reported video gamers, and the combined revenue for this industry was approximately $78.3 billion.
Families come together to play more group-oriented games on a night in the house. Friends link up online to run the latest multiplayer sports game. First-person shooter (FPS) experts hit up a dedicated game server to plow through endless hordes of other competitive players. Whichever game worlds a player enters, they are spending a good amount of their personal time playing these interactive games.
For those entrepreneurs who are seeking an opportunity to make money in this industry, there are a few things to learn. One of the first things you’ll want to do when studying the industry is to delve more into the data analytics of the gaming industry. This is the process of inspecting, cleansing, transforming, and modeling data.
It’s all done with the goal of discovering useful information, informing conclusions, analyzing raw data to find trends, and answer questions. The video gaming industry is built on all sorts of data. Whether it’s a popular multiplayer game like Minecraft, or a new indie game, each of these games that are hosted by a dedicated game server can collect data. This data can then be analyzed in the hopes of learning more about the gaming industry. We’ll focus on what data analytics can tell you about the gaming industry and how you can use it.
1. Improved Decision Making
Analyzing data can be used to help you figure out if the best decisions are being made within the gaming industry. When gaming companies utilize the data insights which they garnered from analyzing data to help with their decision-making, this can lead to better outcomes for the company. Companies who follow such paths will, themselves, receive industry accolades like the Gartner Magic Quadrant designation. In addition to this, these companies will gain more insight into the millions of gamers who are playing games on their dedicated servers.
When the gaming industry utilizes data analytics to help with decision-making, this helps to eliminate a lot of guesswork. Such decision-making helps the gaming industry have a full view or better insights into those gamers who purchase and play their games. This completeness of vision can be crucial for gaming companies who often are putting a lot of money up for creating such multiplayer games like Minecraft. Better insights can help them create better products in the future and learn more about thier target audiences.
2. Better Marketing
As you gather data, this lets you know more about your audience of gamers. Through your game server hosting on dedicated game servers, you can compile such data. These analytics can help you find a way to better market your product to gamers. Using the data gathered, you can even narrow into a particular demographic of gamers with marketing, which speaks to them directly.
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For instance, say you have a segment of Minecraft fans who love particular game worlds from the game. Using this data, you can then build a marketing campaign which focuses on this group. Data analytics can definitely help to let you know how the industry might market its wares to gamers.
3. Customer Service
When you analyze data within the gaming industry, it can help build a solid customer service base. The companies who excel at this part of studying data are given insight into what their customers might want. Using data analytics like this helps a gamer realize that their concerns, or even ideas, are being listened to. The bottom line is that when you actually listen to what a customer has to say, this allows for opportunities for the gaming industry to grow. Studying such data from customer service interactions can provide insight into customers’ communication preferences, their interests, and even their concerns.
For companies that utilize data analytics, they experience more efficiency in operations. Wading through the data that’s provided can help a business become a bit more focused and resilient. Many gaming companies in North America and across the world that have utilized the services of data have become much more efficient in the long run. This means less money is wasted in an industry where sometimes the return is not as high as what’s gone out the door. To get the best performance as a gaming company, it helps to use data analytics to become more efficient.