Predicting and preventing customer churn represents a massive additional potential revenue source for every business. it refers to a customer ceases her /his relationship with the company.
Predicting that particular customers are at a high risk of churning, while there is still time to take necessary action and do something about it; represents a huge additional potential revenue source for every business. Besides the direct loss of revenue that results from a customer abandoning the business, the costs of initially acquiring that customer may not have already been covered by the customer’s spending to date. Furthermore, the fact that it is difficult and expensive to acquire a new customer than it is to retain a current paying customer.
In order to succeed at retaining customers who would otherwise abandon the business, organizations must be able to: