What the Client Wanted
Deploy customer churn analytics-based solutions to study and capitalize on customer behavior.
Leveraging customer churn analytics helped the client to identify the drivers that contributed to customer churn. This engagement entailed the implementation of analytics-based solutions to scrutinize, understand, and capitalize on customer behavior. It even enabled them to develop a customer churn model that precisely tracks deviations in customer behavior.
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Overview of the Telecom Industry
Data and analytics are key factors that have transformed many industries globally. It not only acts as a tool to cut down costs and enhance customer experience but also helps drive future growth. Also, digitization has played a major role in improvising business functions across industries and the telecom industry is no exception. In fact, it enables organizations to reimagine their business functions and systems, and future-proof their businesses to withstand the growing competitive pressure.
Moreover, the growing need to deliver a superior customer experience has proven to be a critical driver for telecom analytics in the telecom industry. Telecom analytics enable telecom firms to understand the modern customer’s needs and help personalize services in real-time.
However, to gain a stronger foothold in the industry, telcos have to focus on providing holistic services. Implementing innovative market trends helps leverage the efficiency of services. Quantzig’s customer churn analytics is one such solution that aims to change the way the telecom industry functions.
Telecom Industry Challenges
- Ongoing regulations in the telecom industry: Telecom industry players have been facing many regulatory challenges owing to the complexity of the surrounding environment. Leading telecom firms have also started embracing such regulatory pushes to turn them into customer-focused benefits.
- Offering personalized customer experiences: Enhancing customer experience is the key to improve brand loyalty and profit margins. To do so, telecom companies need to gain detailed insights into the customer’s journey and understand the various aspects affecting their behavior.
To know more about the benefits of devising an effective customer churn model, request a FREE proposal.
About the Client
A leading player in the telecom industry.
To identify customer behavioral patterns and develop a reusable customer churn model, the client – a leading telecom client – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in customer churn analytics to their benefit and gain actionable insights to capitalize on customer behavior.
Customer Churn Analytics Engagement Summary
Quantzig’s customer churn analytics solution helped the client to develop a reusable churn model based on the customer’s behavioral pattern. The customer churn model benefitted the client in numerous ways and enabled them to take proactive measures to reduce customer churn. It also assisted the telecom industry client to devise and test the churn score and key drivers based on each customer’s propensity to churn.
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Customer Analytics Solution Insights
Customer analytics is gaining extensive applicability in a number of industry domains and are poised to witness widespread adoption in the coming years. Also, with the innumerable challenges that have unfolded in today’s rapidly changing telecom landscape, it becomes crucial for telcos to predict customer churn and devise appropriate telecom analytics-based business models that offer real-time insights into customer behavior.