Posts tagged Customer churn
Increase profitability by predicting customer churn

Customer churn is defined as the process of a customer ending its business with a specific brand, product or service. Churn predictors can include information such as customer behavior, demographics and perception of the company. Any of these variables individually or in conjunction can give an indication of when a customer is about to leave. The end-goal is to combine predictions with precise and prioritized actions to prevent customers from churning and thereby retain business. As has been said many times before, the cost of keeping an old customer is a fraction of the cost of gaining a new one.

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