Creating Customer churn model
Customer retention is a top priority for any business. SkyPoint Modern Data Stack Platform (MDSP) offers to bring together various customer components through its Customer Churn Model tool. You can use it to understand the reason behind customer churns and estimate the risk associated with your customers. These insights will guide you to design a data-driven strategy for customer retention.
You must define the activities to analyze your purchase history for a predictive model. Once you get started with the churn, you can adjust or edit activities along with relationship info.
You can predict your churns in the following types:
|Subscription||Customers with recurring payment for products and services.|
|Transactional||Customers with one-time purchase of products and services.|
The perquisites might vary based on the Churn type you use. The prerequisites for each churn type are as follows: