Banks, telephone service companies, Internet service providers, pay TV companies, insurance firms, and alarm monitoring services, often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the cost of retaining an existing customer is far less than acquiring a new one (Wikipedia). According to this article, the probability of selling to a new customer is 60-70%, while the probability of selling to a new prospect is 5-20%. So knowing if a customer is at risk of leaving is one of the most important tasks a company has to perform in order to keep growing its business. The data can be found here on kaggle public datasets. We will predict if a customer will churn based on his informations. There are 7043 customers and 20 features.
Jun-18-2021, 17:15:48 GMT