Many companies use statistical models to optimize their activities. An example of this type of models are scoring systems used in banks in assessing creditworthiness, models used to optimize the activities of debt collection companies, models optimizing direct marketing or used in CRM (Customer Relationship Management). Such models are often called predictive models because they allow prediction (forecast) of future customer behavior. In this article we would like to introduce to to you Customer Churn prediction and it’s ROI calculator.
Customer churn and retention using predictive modeling and AI
Predictive models can predict the chance of occurrence of any phenomenon or the fact that it occurs: failure to repay, accident, customer departure or purchase. The use of the predictive model to support decisions in comparison to the application of common sense rules or those proposed by the expert gives a profit of 10-30% greater.
Customer churn and retention decrease are a very important problems in most of the industries nowadays. To solve these issues, it’s very important to analyze each customer and predict their future behaviour. Machine Learning techniques are able to discover patterns in your customer data and apply those insights to predict churn, which well helps to retain more customers. More and more companies are starting to implment machine learning and AI for customer retention management. At Addepto we have prepared ROI calculator which will show how much return on AI investment you could get. Use below Customer Churn Prediction ROI calculator to estimate how much you could save by leveraging Artificial Intelligence with use of machine learning and predictive analytics.
Customer churn prediction ROI calculator
Customer churn prediction software and it’s ROI
Churn prediction software and solutions are used in many industries, such as e-commerce, mobile gaming, telecom, fin-tech (finance) , healthcare, insurtech (insurance), fitness, retail, banking and many more businesses. While calculating investment on customer churn prediction costs you should understand all other financial and business benefit aspects. Statistics shows that it is 5 times cheaper to retain existing customer rather than finding and aquiring a new ones. Churn prediction allows you to not only keep your clients active and loyal but also give you additional opportunity for up-sell and cross-sell on retained customers. All of these factors give you an amazing opportunity to grow your business faster.
Regardless of the industry, above customer churn prediction ROI calculator will help you pre-determine the potential advantages of implementing churn prediction AI model into your system. It also helps to estimate how much you could save by implementing machine learning models for customer churn prediction.
Use our churn prediction software to increase your customer retention and churn prediction ROI. Get started applying machine learning and AI models for predicting customer churn and stop your customers from leaving your company. Discover patterns in your customer database and apply that information to retain more customers and keep the loyal. Our customer churn software will provide you with additional recommendations on why your customers are likely to leave.
Predict Customer churn in various industries
Retain more customers in different businessess such as:
- Software as a Service
- Internet etc.
If you have any questions or you need assisatnce in measuring ROI on predictive analytics implementation for customer churn, just ping as a message. We will provide you with free consultation and analysis of your data for potential machine learning and AI model implementation for customer churn prediction.