Customer Churn or Churn Rate tells how quickly customers are leaving or moving away from one service provider to another. It is one of the biggest focus for any Service Provider to retain existing customers or to minimize Churn Rate as cost of acquiring new customers are much higher than retaining existing customers. Customer churn is more relevant in subscription based business like Telecom, Cable TV, Video rentals, or any other subscription based services.
There could be various reasons which causes customer to leave existing Service Providers. Few of these are Customer Experience, Service Quality, Better offer from competition. This suggest that retention approach for “about to churn” customer also varies from customer to customer. In order to identify these “about to churn” customer, various analysis should be performed. And to perform data analysis, data from various sources would be required.