Machine Learning and its Application to Predict Churn in the Telecommunications Industry (Research Paper Sample)
It is about Machine learning and its application to predict churn in the Telecommunications Industry. Telecommunications has been one of the most important industries in developed nations. These service companies suffer from losing valuable customers to rivals known as customer churn . The opposition has increased due to scientific advances and an increase in operators. Complicated strategies are required by companies to survive in such a competitive market. Customer churn is a serious problem as it causes significant losses in telecom services. To increase profits, new customers can be acquired, existing customers can be up-sold, and customers' holding periods are extended
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Machine learning and its application to predict churn in the Telecommunications Industry
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Introduction
The global market for telecom services is expected to grow at an incredible rate as everyday life becomes more dependent on it. Due to the constant innovations and rapid pace of development, the global telecommunications market continues to change (Bryman, 1988). The loyalty of customers is key to the success of the telecommunications market. Telecom operators can maintain their value in a highly competitive market by building trust with customers and establishing a culture of trust that drives loyalty. In today's competitive market, it is important to retain existing customers and acquire new customers (Braun & Schweidel, 2011, pp. 902).There are many churn customers within the telecommunications industry. For predicting churn customers, a domain expert is necessary. We use a variety of supervised algorithms to predict churn.
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