Can Machine Learning Help You Keep Your Customers?

In today’s digital economy, consumers have quick recourse if they’re not happy with a company’s services: turn to social media, move to a competitor or simply disappear without a trace. When a customer ends a relationship with a company — otherwise known as churn — the potential for increased profits is lost. A report by Bain & Co. stated that the longer a customer is with a company, the more profit they bring in. So, how can you prevent churn from eating into your profits? A New Approach There are many models out there to help companies, but they’re riddled with problems, said Lara Albert, vice president of global marketing for Globys, makers of the Amplero personalization platform. “With traditional models, you employ targeting rules to dictate which offers are…

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