New research into AI’s data analysis capabilities gives casinos more tools to improve their marketing
Researchers from the University of Maryland, North Carolina State University, National Taiwan University, Oxford University, Kings College London and Perceptronics Solutions, Inc. have released a new paper that explores how, using artificial intelligence (AI), text analysis of social media can monitor the extent to which brand reputation changes over time. Soon to be published in the Journal of Marketing, the results can be invaluable for casino marketing departments that are looking to remain at the top of the list in an increasingly competitive industry.
Brand reputation changes over time due to events that affect the brand and the fact that the reputation isn’t constant means that it is imperative that companies monitor their brands continuously. This is the only way to determine whether a brand’s reputation is changing, as well as to ascertain which aspects of the brand are the cause of any fluctuation. AI-based text analysis of social media posts, which can be accomplished automatically, is a powerful alternative to manual intervention that is resource-intensive and costly.
By automatically analyzing millions of tweets on Twitter, the researchers showed that their brand reputation tracker accurately reflected major brand events in real-time. For example, when it became known that Facebook had improperly shared personal and private information with Cambridge Analytica, the researchers’ tracker reflected an immediate decline in Facebook’s brand reputation. On the other hand, when Google added new features to its search engine, the company’s brand reputation increased.
One of the researchers, William Rand, explains, “Our brand reputation tracker is unique in that it can reflect the impact of brand events in real-time and connect them in a more granular way to managerially specific drivers of brand reputation. Managers can use it to drive programs that enhance their brands’ standing with customers, forging deeper relationships and ultimately delivering more revenues to their bottom line.”