Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Case Study scenario as below: In developed countries, telecommunications has become one of the most important industries. The level of competition has increased as a

Case Study scenario as below:

In developed countries, telecommunications has become one of the most important industries. The level of competition has increased as a result of technological advancements and an increase in the number of operators. Companies are relying on a variety of techniques to thrive in this competitive industry. To enhance revenue, three key tactics have been proposed: (1) attract new consumers, (2) upsell existing customers, and (3) extend client retention periods. However, when comparing these strategies based on the value of their return on investment (RoI), it was discovered that the third strategy is the most profitable, demonstrating that retaining an existing customer is much less expensive than acquiring a new one, as well as being much easier than the upselling strategy. To implement the third method, businesses must reduce the risk of customer churn, sometimes known as "moving from one provider to another."

In order to reduce the risk of customer churn, you would like to first generate valuable information in helping you to give insights on the important variables affecting customer churn through exploratory data analysis

[Formulating Question] What is the aim of this case study?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Selling Today Partnering To Create Value

Authors: Gerald L. Manning

7th Canadian Edition

0133156850, 978-0133156850

Students also viewed these Mathematics questions

Question

=+b) Why is there no predictor variable for December?

Answered: 1 week ago