Churn prediction is detecting which of your customers are probably going to cancel their subscription, product or service. Totta data lab uses available and valid information about customers within the boundaries of privacy laws to predict this behaviour.
Data patterns are extracted with the assistance of econometric models and machine learning. These patterns are indicate which customers can be classified as high risk churn customers. This information can deliver outstanding amounts of savings and extra turnover. An accurate prediction of churn helps your company to identify and save the customers within this group. Eventually this will mean more customers and more turnover.
Our data scientists have for example ran a churn prediction model for a high end energy supplier. The model had a precision of 86%, which means that the company had a very accurate idea of the customers that were leaving. Their were also very little false positives, which means less unnecessary investments.
We can integrate our churn models in your data warehouses and systems. We also give advice about the implementation of the churn model and the effectiveness of your retention efforts after our predictions. This results in even better results over time.
Do you want to know what churn prediction can mean for your company? Please contact us through the contactform.