Churn Prediction
You already have a concrete use case idea and want to find out as quickly as possible whether it is feasible and will create tangible value? Within 10 days, we build a first prototype enabling you to decide if this is a project where investment will pay out.
Prevent customer churn with churn prediction
Challenge
Customer loss is a problem every company aims to avoid. Depending on the business model, large waves of churn not only have financial impacts (revenue) but also affect the utility and satisfaction of the remaining customers (e.g., in platform business models).
Approach
Churn prediction is an essential tool that helps marketing and sales teams identify customers at risk of canceling their contracts or making purchases with competitors. It utilizes historical customer data (e.g., purchasing behavior, service interactions, master data, etc.) along with machine learning algorithms. These algorithms learn patterns and behaviors that indicate the likelihood of individual customers churning. The learned insights can then be automatically applied to the current customer base, allowing for a precise, automated, and rapid estimation of individual customers' churn risks.
Result
With this approach, companies can not only identify which customers are likely to churn and possibly why, but also initiate appropriate retention measures in a timely manner to prevent cancellations or counteract churn early. This saves resources and keeps your customer base stable.
Our strength
Our ecosystem enables a holistic view of data & AI.
years of experience in Data Science, ML, and AI
clients from 10 industries and growing
experts from more than 17 fields of study
successfully implemented Data and AI projects
How Churn Prediction works
In churn prediction, the AI model learns which behaviors and characteristics were specific to customers who churned in the past. It then analyzes which customers from the current customer base exhibit similar traits, indicating a high likelihood of churning.
Benefits of AI-based churn prediction
With Data and AI, the churn probabilities of your customers can be calculated continuously and within seconds.
Customers likely to churn can be re-engaged early through targeted countermeasures and offers.
Establishing stable customer relationships is the key to long-term success and more efficient than acquiring new customers.
Churn prediction provides insights into the motivations and characteristics of your customers.
Interested? Let's talk
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