For any current company, getting new customers is one of the most important goals, however, to avoid the need for new customers. The company's customer drain is even more important, as there is no point in attracting new customers to the company if your current customers end up leaving.
That is why the use of algorithms to predict future casualties is having such a boom today.
These models are currently used in many sectors, such as retail, telecommunications, services, etc..
Using these models, the company will be able to know in advance that customers have a greater probability of causing a loss in the company, in this way, the necessary measures can be taken to avoid this. These measures range from offering new products to applying a discount on the price of the product or service that the customer is consuming.
Reasons for customer termination may be commercial, technical, service, etc. In the face of all these possibilities will be able to carry out a statistical model that predicts the cancellation of the client according to different reasons, in this way we will be able to better specify what actions we must carry out to ensure that the client remains in the company.
With all this, all the big companies have their own Churn model with which to reduce the percentage of customer leakage.