
Sweepstakes Software Success: A Guide to Using Analytics and Reporting Tools

This is why leveraging the power of analytics tools to support your sweepstakes business, and make data-backed, logical, and better business decisions is so important for a business today. Data analytics helps online sweepstakes casinos immensely by interpreting business data, and predicting better alternatives that help you to grow and nurture a loyal pool of players.
Here in this article, we will discuss in detail about the data analysis process, analytics tools, and their impact on sweepstakes gaming software.
What Is Data Analytics
Types Of Data Analysis
Descriptive Analysis:
This is used to learn “What is going on in my business?”
This method is used for analyzing historical data over a period of time to understand what happened in the business in the specific time period.
For example, in sweepstakes casinos, a descriptive analysis will disclose data like monthly visitors, user engagement time, etc. for the last year.
Diagnostic Analysis:
This method is used for learning “Why is it happening in my business?”.
This method is used to find the reason behind a trend or pattern that the descriptive analysis has presented.
For example, if you find that the player retention rate has dropped suddenly over the last 3 months in your online sweepstakes software, you can use a more thorough and deeper analysis, i.e. the diagnostic analysis to understand why. As a result, you might find out that customer complaint rates have increased, and determine that as the root cause of lower player retention rate.
Predictive Analysis:
This analysis type is implemented to understand “What can I expect to happen?”.
This method is used to interpret historical data and analyze current algorithms to statistically predict what might happen in the future.
For example, in the sweepstakes casino business, you can use the predictive analysis to determine which online sweepstakes games will likely be popular/trending in the coming months, so that you can introduce more such games today to cash in the profit tomorrow.
Prescriptive Analysis:
You can use this analysis type to discover “What can I do to make it happen?”.
Prescriptive analysis dives even deeper and analyses the existing data to provide valuable suggestions and actionable tips to improve aspects of your business.
For example, you can use this prescriptive analysis for your sweepstakes gaming software to determine how to improve player satisfaction rates, or how to acquire new users.
Importance Of Data Analytics Tools For Sweepstakes Success
Tracking & analyzing player behavior
Understanding player behavior, i.e. what players like and dislike, which player spends more money, who engages with what types of sweepstakes games more, etc. are crucial for the success of your sweepstakes gaming software. Data analytics allows you to track these data and analyze them to find answers to several questions regarding player behavior. With the help of data analytics, you can identify high-value players and find out what they’re spending on. Then, you can use this data to develop personalized marketing plans for them which have more chances of success. Similarly, it will also tell you which games are the most popular at the moment, so that you can include more sweepstakes games of this type.
Optimizing marketing strategies
Data analytics can drastically improve your marketing endeavors. With data-backed insights about what works in your marketing strategy, and what doesn’t yield good results, you can significantly modify and optimize your marketing strategies and increase the success rate. With data analytics, you can segment players into several groups based on their demographics and gaming preferences. Then, you can develop more targeted and personalized marketing plans for each group. You can also implement A/B testing to ensure which marketing strategies have more success rates. Besides, after developing these marketing strategies, you can also track and analyze the success of your campaign, and optimize it further for better results.
Improving customer experience
Providing a seamless and satisfying customer experience is another important factor for the success of your business, and data analytics helps in this area too. With data analytics, you can identify the common pain points of your customers and be more proactive in solving them. Offering players a personalized experience is also a factor in customer satisfaction. You can also track and analyze customer complaints and the response time from your team, and improve on them with new strategies.
Data Analytics Process: A Step-By-Step Guide

Define Objective
Start your data analytics journey by defining the objective first. Every data analytics process is driven by the core question(s), and the whole process depends on finding the answers. So, understanding the goal of your data analytics session is the first step that you must follow. By clearly defining the goal, you’ll be able to select the right KPIs and find the right data that will help you solve the problem at hand.
For example, if you want to increase the player retention rate, then you should collect data related to session duration, session count, game preferences, bonus rewards redemption rates, etc.
Defining the goal for data analytics helps you to stay focused and derive actionable plans out of it, avoiding unnecessary and unrelated data collection in the process.

Choose A Data Analytics Tool
Next, you’ll need to choose the correct data analytics tool or software. Every analytics tool has its special features or expertise in certain areas. So, defining the goal will also help in choosing the perfect analytics tool. Some factors to consider here are compatibility, scalability, and ease of use.

Data Collection
After selecting the tool for data analytics, it’s time for you to collect relevant data that will help you find answers to the questions defined at step 1 of this process. In order to do that, the analytics tools will identify data sources such as player activity logs, customer care data, financial data, feedback form, automated tracking systems, etc. and then collect the relevant data.
By accurately identifying relevant data points, analytics tools will help you find the answers to the questions.

Data Cleansing
Data collected by analytics might have several contaminations in the first stage, in forms of duplicate data, incomplete data, errored data, insignificant data, and more. So, the next important step for the analytics tool will be to cleanse the collected data. This will involve removing duplicate data, finding missing data by means of statistical imputation, etc., correcting inaccuracies and deleting irrelevant data.
With a clean set of data, analyzing and interpreting them will become easier.

Data Analysis
In this step, depending on the goal or objective of the data analysis process, the analytics tool will apply several methods of analysis, i.e. descriptive analysis, diagnostic analysis, predictive analysis, or prescriptive analysis. This involves segmentation of data, analyzing correlations and figuring out patterns and algorithms, etc.
Analyzing the data like this will help us reach out final destinations, i.e. interpreting them and making effective business decisions.

Data Interpretation
The results derived from the data analysis process are still raw data which are not decipherable by a common man. Hence, we need the next step here where the outcomes of the data analysis will be interpreted into meaningful conclusions understandable by all.

Reporting & Decision-Making
Finally, it’s time to finalize the outcomes and prepare reports based on the findings. This will involve creating data reports, charts and diagrams, verbal analysis, and more. Based on the reports derived from the data analytics process, you will now be able to make data-backed business decisions for your sweepstakes casino.
Major KPIs to Track for Online Sweepstakes Businesses

Player Retention Rate
Player retention rate indicates the percentage of players that remain on the platform after a certain period of time. A high player retention rate indicates business success while a poor retention rate suggests that there might be something lacking in terms of customer satisfaction.

Customer Acquisition Cost
CAC or Customer Retention Cost indicates the cost of acquiring a new customer. By analyzing the total marketing and promotional cost over a period of time, and counting the number of new players acquired within the same time period, you can calculate the Customer Acquisition Cost. A lower CAC indicates that your marketing tactics are successful, while a higher cost will indicate the ineffectiveness of your marketing campaigns.

Conversion Rate
The conversion rates indicate the percentage of players who sign up on your platform and make a deposit among all the unique visitors that you get on your platform. Lower conversion rates might indicate that your marketing goals are misdirected, and need optimization.

Average Revenue Per User
The Average Revenue Per User indicates the revenue generated per active player over a certain period of time. The higher the average revenue, the better profit your business is making. A lower average revenue may indicate that the platform is unattractive, the pricing is too high, or other related problems.

Return On Investment
ROI or Return On Investment compares the total amount of money spent on the business vs. the total amount of return it has generated over a certain period of time, generally, over a financial year. When the business spends more than it earns back, it means that your business strategies need improvements.
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Frequently Asked Questions
Data analytics is the process of tracking, analyzing, and interpreting data related to your business and finding insights that will help you make better business decisions.
Data analytics helps a sweepstakes business in several ways. It interprets player behavior and helps you to personalize player experience. It analyzes player complaints and helps you provide better customer support. It also analyzes the performance of your marketing campaigns and helps you optimize them.
Yes, our sweepstakes casino software solution is equipped with advanced data analytics tools.
You can ask sweepstakes gaming software companies like GammaStack to integrate a 3rd party analytics tool.
GammaStack is one of the best sweepstakes software companies in the market. GammaStack’s sweepstakes platforms come integrated with numerous advanced tools and features, including an efficient analytics tool to help your business.