Churn Analysis
Overview
Churn Analysis is the process of identifying and understanding why customers stop using a product or service.
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Churn Analysis involves examining customer data to determine the rate at which customers discontinue their use of a company's product or service. It helps businesses identify patterns and reasons behind customer attrition. This analysis is crucial for companies to understand customer behavior, improve retention strategies, and ultimately reduce churn rates.
The process typically includes collecting data on customer interactions, transactions, and feedback. By analyzing this data, businesses can uncover trends and factors that contribute to customer churn. This insight allows companies to implement targeted interventions to retain customers and enhance overall customer satisfaction.