Client objective
- The client wanted a reduction in the high customer churn situation which it was facing.
- It also wanted an improvement in win back rates through understanding customer behavior.
Solutions provided
- Developed a churn prediction model based on demographics, relationship and transactions.
- It also developed a retention prediction model to identify lead indicators of potential customer churn in the next 30 days
Benefit derived
- 9% improvement in the identification of potential churn customers.
- Win back rates improved from 55 to 68%
- Net bad churn reduced to 8% from 10% with in 3 months of implementation.
