The OLSPS Churn Solution is aimed at identifying which customers are most likely to leave a service, thus discontinuing patronage. With this knowledge, service providers are able to take action to dissuade high risk customers from leaving their service, with priority given to higher value customers.
In saturated markets, finding new customers is rare, thus maintaining the current client base is of high importance. One of the main reasons for loss of income in companies. A large percentage of this loss is represented by customers leaving their service for the service of a competitor offering a better deal, i.e. customer churn.
How Churn Influence Companies’ Revenue
It isn’t enough just to know which customers are at risk of churning. Real insight is obtained in knowing this with enough time to change their minds. This is where the power of the OLSPS Churn Solution lies. Through modern machine learning algorithms, our solution uses the power of predictive analytics to predict the likelihood of customer churn with time to spare. This gives the business a period in which to implement targeted marketing schemes to ensure continued patronage.
OLSPS Analytics combines extensive industry knowledge, broad functioning capabilities, and technical expertise to help our clients gain insights to create strategies for attracting, engaging, and retaining customers.
Millicom International Cellular, also known as Tigo, is a mobile phone network provider which provides affordable, widely accessible and readily available prepaid cellular telephone services to more than 30 million customers in 13 emerging markets, in Latin America and Africa. Most of Tigo’s customers use prepaid services which allow them to churn at any time and without any warning. This poses a problem for Tigo, as the cost to acquire new customers is considerably higher than retaining existing customers. The OLSPS Churn Solution scores each of the customers on a regular basis to predict the probability of churn in the next few days.