The primary goal of churn analysis is to identify those customers that are most likely to discontinue using your service or product. In this dynamic financial industry, companies are progressively providing products and services with similar features. Amidst this ever growing competition, the cost of acquiring a new customer typically exceeds the cost of retaining a current customer. Existing customers are a valuable asset. Furthermore, given the nature of the financial services industry, where customers generally tend to stay with a company for a longer term, churning could lead to substantial revenue loss.
With StatSoft’s Churn Analysis Solution, you can identify customers who are likely to churn by making precise predictions, reveal customer segments and reasons for leaving, engage with customers to improve communication and loyalty, calculate attrition rates, develop effective marketing campaigns to target customers and increase profitability. With STATISTICA’s advanced modeling algorithms and wide array of state-of-the-art tools, you can develop powerful models that can aid in accurate prediction of customer behavior and trends and avoid losing customers.
- Batch or Real-Time Processing: Use the models you have built to determine churn and indicate, either by batch or in real-time, the customers who are likely to transfer their business to another company.
- Cutting-edge Predictive Analytics: STATISTICA provides a wide variety of basic to sophisticated algorithms to build models which provide the most lift and highest accuracy for improved churn analysis.
- Innovative Data Pre-processing Tools: STATISTICA provides a very comprehensive list of data management and data visualization tools.
- Integrated Workflow: STATISTICA Decisioning Platform provides a streamlined workflow for powerful, rules-based, predictive analytics where business rules and industry regulations are used in conjunction with advanced analytics to build the best models.
- Optimized Results: Compare the latest data mining algorithms side-by-side to determine which models provide the most gain. Produce profit charts with ease.
- Role-Based, Enterprise-Wide Scope: If yours is a multi-user collaborative environment, you can use STATISTICA Enterprise to share data, improve churn models, and benefit from collaborative work with small or large groups.
- Text Mining Unstructured Data: Improve churn models by using powerful text mining algorithms to incorporate unstructured data currently sitting unused in storage.
- STATISTICA Decisioning Platform
- STATISTICA Extract, Transform, and Load
- STATISTICA Enterprise
- STATISTICA Data Miner
- STATISTICA Text Miner
- STATISTICA Live Score
Telecommunications Company Implements Customer Retention Strategy with STATISTICA Data Miner