Customer Retention is Taking Center Stage, and Predictive Customer Analytics Can Make it Shine

Increasing customer retention by reducing customer churn. It has always been a big priority, but coming off the turmoil of 2020, it has become a focal point for many companies. The pressure is on customer success leaders to produce results. The good news is predictive customer insights can take the guesswork out of the business so you can focus on making data-backed decisions to increase business impact. Utilizing data science, you can identify what data points are most associated with retention – and churn – and get account-level predictions on who you are at risk of losing. 

With a no code tool, AI machine learning, getting predictive customer insights is quicker, easier, and probably more affordable than you think. Here’s how: 

1. It is your data determining the best predictive model, not industry average benchmarks. With Squark, you can upload your data through an excel sheet, CSV, or use one of our pre-built connectors. The important thing is that the data is yours because the best model for one company may not be best for another. The result is an analysis that takes into account your company’s specific data sets from what you have historically captured.
2. The analysis and results are generating in minutes without the need of data scientists. The data prep, feature engineering, and model testing can be done in as little as five minutes. It would likely take a data scientist several months to run a single project. You can take watch as the tool moves through all the steps or even log out and check-in on your results at a later time.
3. Squark presents the results in an understandable, explainable way. Transparent results that identify what drives predicted outcomes from your historical data. Those drivers will be your key indicators and will help define your strategy. They could be the type of contract they sign, the number of touchpoints with their success manager, or something else entirely. The model will identify and rank the most influential data points.
4. Squark provides the probability of each customer or account’s likelihood of churning. Account by account, line-by-line. You can use this information to create segments and develop your communication strategy.
5. You can run the analysis as many times as you’d like. The more data you acquire over time, the better the predictions will become. And as you start asking iterative questions, and you can run those too!

Squark is the best no code, automated data science software on the market – and it was built for the business user. Start using historical data to predict future retention and maximize revenue.