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What Stays in Vegas by Adam Tanner

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14

Seeking the Goldilocks Balance

Fostering Loyalty

The best businesses give consumers a choice whether or not to share their data, and offer benefits in return. The trick for executives is to strike the right balance when offering incentives. Big data helps companies such as Caesars tweak their formulas to best influence customer behavior.

People will share information for discounts or rewards, a trend that has accelerated in the Internet era. For example, some car insurers offer better drivers lower prices if they allow monitoring of their driving habits. So motorists agree to install a telematics device in the car’s dashboard, which sends back information such as what time of day the person drives, how fast he brakes, and other characteristics. ...

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