Churn Prediction
Churn Prediction is the process of identifying customers who are likely to cancel a subscription to a service. It`s vital for startups to minimize customer loss and maximize retention strategies.
Benefits
Churn prediction lets businesses act before they lose customers. It can make customers happier and boost sales.
Frequently Asked Questions
What is the churn prediction process?
The churn prediction process uses data to spot customers who might stop using a service soon. It helps businesses take steps to keep them.
What is an example of churn prediction?
An example is when a streaming service notices you`re watching less. They might offer you a deal to keep you interested.
Why is churn prediction important?
Churn prediction is important because it helps businesses keep more customers. This can save money and increase profits.
Key Takeaway
Churn prediction is a tool for keeping customers. It helps businesses understand and meet their customers` needs better.