This contest is about reducing customer churn (attrition) using analytics. Submission deadline: July 30
Churn (loss of customers to competition) is a problem for telecom companies because it is more expensive to acquire a new customer than to keep your existing one from leaving. This contest is about enabling churn reduction using analytics.
Submission Deadline: Mon, 30 July 2012 05:00 AM BST
The Business Pain:
Most telecom companies suffer from voluntary churn. Churn rate has strong impact on the life time value of the customer because it affects the length of service and the future revenue of the company. For example if a company has 25% churn rate then the average customer lifetime is 4 years; similarly a company with a churn rate of 50%, has an average customer lifetime of 2 years. It is estimated that 75 percent of the 17 to 20 million subscribers signing up with a new wireless carrier every year are coming from another wireless provider, which means they are churners. Telecom companies spend hundreds of dollars to acquire a new customer and when that customer leaves, the company not only loses the future revenue from that customer but also the resources spend to acquire that customer. Churn erodes profitability.
The objective of this contest is to predict customer churn. We are providing you a public dataset that has customer usage pattern and if the customer has churned or not. We expect you to develop an algorithm to predict the churn score based on usage pattern.
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