Business Problem Statement :

“Acquiring a new customer is extremely costly in comparison to retaining an existing one”. Companies are struggling to retain customers because of cut-throat competition among business rivals in acquiring new customers. In the light of the same, companies have started the loyalty program of accruing points & redeeming the same for gifts. However, using this information in reducing the customer churn is still naïve for most of the companies. What to do with the data captured? Is segmenting the customers are devising strategies for each segment the only way out? How can statistics & predictive modelling help in the space of customer analytics? These are a few questions to be addressed in keeping companies afloat in this disruptive world.