Problem / Pain
Although acquiring new customers is important, it is just as important (and less expensive) to retain existing customers. However, customer retention teams have limited resources and are unable to devote the same level of attention to every customer. Businesses need to determine which customers are more likely to churn so they can prioritize their retention efforts.
By discovering patterns in historical customer activity, modern machine learning algorithms accurately predict which of your current customers are most likely to defect to your competitors. This enables your retention team to focus their resources on the customers most at risk and offer them incentives to remain loyal. By retaining more customers, your business grows faster, increasing profits and building brand value.
Why Syncrasy & DataRobot
Based on data curated by Syncrasy, not only will DataRobot’s models accurately predict which customers are most likely to defect, it will automatically identify the individual reasons for why each customer is likely to churn. This allows you to understand the factors driving your churn rate and adjust business processes accordingly, as well as individualize your retention efforts.