Marketing professionals must re-engage customers that stopped buying (churn). Giving promotions to customers at risk of churn has a high cost if mistakenly giving discounts to normal customers. Reducing churn is an opportunity to make an impact on the bottom line as this customers are already active. This algorithms work by analysing your customer behavior, purchases, and combining with available models and data sets like household incomes, breaches, interests. Churn prediction can have an improvement in churn rate of up to 80%. Thus at a churn rate of 10% and $1M in revenue from churned customers you could save $800k.
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