Select a large retail business, and in a 2-3 page, APA 7th edition-formatted paper, address how an analytical customer relationship management (CRM) tool may help with customer churn prediction models as described in the reading and in the linked videos. How would business leaders utilize data gathered about their customers to customize and target advertising? How would prediction models help in decision-making regarding promotions to offer or other methods to help retain customers and reduce churn?
Chapter 11: Evaluation Study of Churn Prediction Models for Business Intelligence (p. 201-214)
Sirk, C. (n.d.) What is analytical CRM (& 10 best CRM analytics tools examples). CRM.org. Retrieved February 3, 2022, from https://crm.org/crmland/analytical-crm
Scott, T. (2020, March 17). 6 ways CRMs stop customer churn. Technology Advice. https://technologyadvice.com/blog/sales/crm-stop-customer-churn/
Videos:
TEDx Talks. (2020, January 2). Decision-making in a future of big data and AI – Christina Orphanidou – TEDxUniversityofNicosia [Video]. YouTube.
CodeEmporium. (2021, February 22). How would a data scientist analyze customer churn? [Video]. YouTube.
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