Use Case: Telecom Customer Churn
Customer churn in the telecommunication industry poses one of the most important risks to loss of revenue. With low switching costs and numerous alternative providers, customer satisfaction is the most effective way to reduce churn in the telecommunications industry. And the most effective way to improve the customer experience is to take full advantage of the vast stream of rich telecommunications customer data.
From a profitability and competitive perspective, telecom marketers, customer service managers, analysts, data scientists, and executives harness the power of big data analytics to predict, identify, automate and troubleshoot the root cause of high churn rates.
With FutureAnalytica one can understand the key benefits through the right churn analysis
Why do customers churn? What are the main causes of customer dissatisfaction? One can tackle this with Descriptive and Diagnostic analytics.
How do you find out which customers will churn in the coming months? One can answer this with Predictive analytics.
What should one do to minimize churn? Prescriptive analytics is the key to this.
Prescriptive analytics: aims to determine the right decision or solution.
Diagnostic analytics: attempts to explain why something is happening.