MGM MIRAGE (NYSE: MGM) has partnered with ESS Analysis, a Boston-based advanced analytics-focused consulting firm, and A.T. Kearney, a global management consulting firm, to take customer database “mining” capabilities to a new level and further enhance guest loyalty programs.
The two firms will align the vast technological resources of MGM MIRAGE—including a database of more than 60 million customers—with current business strategies to create innovative marketing solutions.
“We are very pleased to announce the latest evolution of our marketing program, which adds the strength of business analytics to our strategic plan,” said Bill Hornbuckle, MGM MIRAGE Chief Marketing Officer. “This initiative increases our ability to cater to our guests’ personalized needs with a one-to-one marketing outreach.”
Advanced analytics utilizes state-of-the-art software to produce a single, cohesive view of information collected from multiple sources within an enterprise.
“This effort is focused on enhancing our cost-effectiveness behind the scenes, but more importantly streamlining our customer rewards program to deliver more value to our guests and to expose them fully to the depth of the offerings at the extensive portfolio of MGM MIRAGE properties,” said Hornbuckle.
Advanced analytics is fast emerging as a popular method to make more efficient business decisions by combining customer insights with factors such as company culture, operational objectives and performance standards.
“This new initiative positions MGM MIRAGE to lead the industry in the design and development of innovative products and services to respond to the changing needs of its customers,” said Ranjan Mishra, President and Founder of ESS Analysis. “MGM MIRAGE has tremendous assets—both physical and intangible—to build upon its customer loyalty program. We are very excited to be a part of this transformation.”
“Advanced analytics is used by transformative industry leaders to drive step-change continuous innovation and improvement in customer retention and loyalty,” said Khalid Khan, Analytics Director at A.T. Kearney. “Sophisticated analytic techniques transform reams of data stored in disparate databases into a vivid 360-degree view of how a customer responds to the onslaught of products and services before them. These detailed profiles provide predictive insights on customer preferences that can be leveraged to improve the overall customer experience through more targeted, cost-effective offers resulting in a true win-win.”