Churn predicition for private and business customers

Churn management is the attempt to avoid customer migration to the competition and to promote long-term customer loyalty. Through preventive measures, churning can be stopped in a targeted manner. For this purpose, the identification of customers at risk of churning is helpful and necessary.

Case Overview

Initial situation

If an existing customer is dissatisfied, in most cases this is expressed quite early. If he complains, for example, about conditions, delivery times or service, it is possible to react quickly. But these indications are not always recognized and interpreted correctly. Often there is simply a lack of time in customer service and support.

Vision

This solution based on Artificial Intelligence predicts the potential for customer churn using a score and thus enables preventive intervention. The aim is to develop a warning system that detects possible cancellations in good time in order to initiate customer retention and customer recovery measures at an early stage.

Lösung

Artificial Intelligence is used to analyse and interpret data for the recognition of cancellation probabilities of different customer segments as well as factors leading to cancellation. Based on this data analysis, the system calculates a churn probability and signals the need for action.

Advantages

Higher customer lifetime value

Higher customer loyalty

Less churn

Your Contact for this case

Niels Pothmann

Expert for Advanced Analytics & Artificial Intelligence

Churn Prediction for Private and Business Customers

Case Overview

Advantages

Your Contact for this case