Many industries have problems with customers leaving their service. In order to combat churn, we need to understand different demographic groups. Utilizing our approach, retailers are able to delve into the root causes of churn.
Our Advanced Analytics solution allows retailers to simulate marketing campaigns for multiple demographic groups. Key highlights include:
- Understand the basics of your customer base. (Who they are? Where they live? What is their history?)
- Train a model of customer churn using machine learning techniques to predict the causal conditions.
- Simulate different marketing campaigns using the trained model and provide dollar figures to the opportunity cost of those campaigns.
- Prescribe specific campaigns to target different demographic groups in order to minimize churn probabilities
Hitachi Solutions can help businesses reduce churn, prescribe marketing campaigns to specific demographic groups and increase subscriber retention. This solution uses your existing customer data to create models and insights that will generate value that can be reused multiple times in the future.