Churn Prediction Tool Problem
Churn means “leaving the company, business, or services". It happens when your existing customers stop doing business or stop using your services. Our tool gathers customer data to predict the number of customers likely to churn at each stage of their journey. It identifies patterns to determine why customers may leave? Thus, you can take the required actions and retain customers before they leave. It’s possible when,
Churn Prediction Tool Solution
We formed a dataset of churned customers from our hundreds of clients, preprocessed the data, did hyper tuning, Exploratory Data Analysis (EDA), data visualization, and looked at distributions of numerical features with the target variable. To prepare a dataset for churn modeling, we encoded categorical features to numbers. The final dataset is available as a Kaggle dataset. Finally, we used an ML/DL library in python to create a classifier. In our model, the dataset is taken as the input, it then preprocesses features, trains the classifier, and returns churn prediction in the output. We used a Decision Tree Model to decide if a customer is a churn or not!
Churn Prediction Tool Features
Data Collection & Integration: Our churn prediction tool consists of a feature that can automatically collect relevant customer data from various sources, such as customer profiles, transaction history, product usage, customer support interactions, and client feedback.
Data Processing: After collecting the data from various sources our churn prediction tool processes the entire raw data and converts it into the final information thus providing you with reliable data for making efficient predictions.
Churn Probability Calculation: Our churn prediction tool is efficient enough to calculate the churn probability for individual customers. This probability represents the preferences of the customer that a customer will churn within a specific time period.
Real-Time Prediction: Our churn prediction tool can generate real-time churn predictions in most cases for both the new and existing customers of your brand. It provides you with real-time churn prediction on the basis of the updated data of all your business’s clients.
Churn Prediction Tool Result
When you want your business to gain a better understanding of the coming revenue, knowing churn rates is crucial. Lower the churn rates, the higher revenue generation. Most common churn prediction models rely on older data and binary modeling techniques. However, ours is newer and gives a more accurate approach to customer churn prediction.