Customer churn analysis
Objective
Helped a large European bank to analyse the reason why it was losing customers and reduce further customer churn
Challenges
- Identifying customers that were most likely to churn and offer them a better customer service.
- GDPR regulations around data privacy, data subject access rights and data retention.
Approach
- Developed a customer churn prevention system delivering analytics on each customer on a real-time basis.
- Identified and defined accurate behavioral patterns and applied them to existing customers in the system.
- Used statistical algorithms and ML techniques to create a decision-based system, trained on historical data of lost customers.
Impact
- Improved customer service and loyalty.
- Identified profitable customers for direct approach marketing.
Questions