What is Churn Prediction?

Churn Prediction is the process of predicting which customers are most likely to cancel a subscription, i.e. “leave a company,” based on their usage of the service. Churn quantifies the number of clients who have left your brand by canceling their subscription or stopped paying for your services. This is bad news for any business as it costs five times as much to attract a new client as it does to keep being one. A high client churn rate will hit your company’s finances hard. By using advanced artificial intelligence ways like machine learning, you’ll be capable to anticipate implicit churners who are about to abandon your services. Why is Churn Prediction Important? Client churn is a common problem across businesses in numerous sectors. However, you have to invest in acquiring new guests, if you want to grow as a company. Every time a customer leaves, it turns out to be a significant investment loss. Both time and trouble need to be conducted into replacing them. Being suitable ...