The annual expenditure for attracting new customers is much more than the cost of retaining existing customers in business, especially in the saturated telecom market
It is observed to be five to six times more expensive to attract a new customer than to retain an existing customer.
In this case, we need to understand “how to reduce churn?” To do that, we’ll need to answer two main questions:
i. Which customers are churning?
ii. Why are they churning?
-> A prototype of ETL pipeline to analyze all relevant customer data and develop focused customer retention programs
-> To prepare a single source of truth, i.e., Structing all the best quality of data in one place.