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Smart business use data to get ahead of the competition.


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Robert Herjavec is a cybersecurity mogul and is a well-known investor in the Shark Tank television program. As many magnates Herjavec started from below and with hard work and good decisions, he manages his way to success. In a recent interview Herjavec shared what he considers the key to a successful business: "In today's competitive landscape if you are not using data to drive your decisions, you'll fall behind quickly."

Herjavec believes that regardless of the size of the business, or the industry in which it is developed, it must have a good data management system that collects and prosecutes the largest amount of data of everything that happens in the business, allowing the business owners to use this data to make smart decisions and be able to run the business in the best way.
Many companies are following the advice of Herjavec and they are spending a large amount of money to build data processing systems. In the case of the betting industry, thanks to the Pay Per Head companies, bookies already have a robust data management system, meaning they don’t have to make a large investment to build one.

The reporting systems provided by the companies of Pay Per Head were designed so that the bookie could have within reach of a few clicks all the information about placed bets, players gains and losses, average of gains per player during a period of time, sports and most popular types of bets, among many other data.

All these data should help the bookie to make key decisions for the business such as when to establish betting limits, in addition to being able to have a good read of the financial status of the business.
The bookies have to take very seriously the use of the reporting tool provided by their Pay Per Head partner, since as Herjavec proposes if bookies use correctly the reporting tool can help them to differentiate themselves from their competitors and offer a service of the first level to its players, which will result in an exponential growth of the business and of course an increase in monthly profits.

 

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