Customer Churn & Employee Retention is the biggest challenge for any organisation.
Customer churn is when the customers either switch from their service provider to its competitor or stop using the service altogether. it's an indicator that can give a company the hard truth about its customer retention.
Attrition is the departure of employees from the organization for any reason (voluntary or involuntary), including resignation, termination, death or retirement.
CHURN PREDICTION
The retention of existing customers is important because it costs more to acquire new customers than it does to retain existing customers. Moreover, it enables the business entities to upsell and cross-sell their products and satisfied customers are potential ambassadors. Retention of existing customers via reduction in churn rate are the most important aspects for a business entity.
Non satisfactory customer service, bad product quality, delay in product delivery & services, better subscription rates & offers from the competitors etc. are some reasons behind customer churn. It results in negative impacts on profitability, future business, brand image, market share etc. It is critical for a company to ensure that its growth rate is higher than its churn rate otherwise it will experience declining revenues and profits with the eventual scenario of closing down the business.
Through ACLYSIS, get elaborate insights and build various categorical models to understand which clients are leaving and to detect where to fix its business.Read More
LEAD SCORE
It has become a challenge to acquire new customers due to stiff market competitions in the current situation. Hence, any company wants to develop a model through which they can identify potential customers so that they can proactively campaign their sale and protect revenue loss.
Aclysis can develop a prediction model to identify potential customers among the business leads received.Read More
ATTRITION ANALYSIS
Employee Attrition is the burning issue today for any organisation.
As an employer, attrition is important to understand because it can decrease labour costs without incorporating staff departures. The instant effect of attrition is loss of expertise and experience from the system. Clear view of employee attrition rate is essential to understand where the organisation stands in terms of candidate retention. Higher rate of employee attrition rate indicates that enough benefits or the best work environment are not provided to keep top-performing employees.
With ACLYSIS, measure and analyse attrition rate, identify the problems need to be solved and initiate requisite steps to prevent attrition. Read More