CHURN PREDICTION ON LENTIQ EDGELAKE
Understand what your customers want, make relevant product recommendations in real-time and increase customer satisfaction and revenue.
Preventing churn helps increase customer satisfaction while having a significant impact on your company’s bottom line. That’s because it costs more to acquire a new client than to retain an existing one. An increase in customer retention of just 5% can create at least a 25% increase in profit.*
That’s because returning customers will likely spend much more on your company's products and services than newly acquired ones.
*Predictive Marketing: Easy Ways Every Marketer Can Use Customer Analytics and Big Data - Omer Artun, Dominique Levin
Aggregating all data, creating localized ML models, productifying them are difficult in centralized data lakes.
With Lentiq EdgeLake, each branch, department, division can develop localized ML models, can use best practices developed organization-wide, tweak models by localizing feature selection and deliver real, scalable, reliable results for customer churn prediction.
Customer churn prediction can improve your business in multiple ways:
Our platform provides as a service infrastructure, resources, application, data and metadata, notebooks management and helps data teams be independent and focus on data analysis and insight extraction. EdgeLake empowers users to: