Predicting Customer Churn: A Hybrid Statistical and Machine Learning Approach

Enhancing Retention Strategies through Dynamic Behavioral Analysis

8 mins
What is it about?




In a market where attracting new customers is more expensive than keeping existing ones, understanding why customers stop buying (customer churn) is crucial for businesses. This paper introduces a hybrid method that combines statistical models and machine learning to predict which customers are likely to stop purchasing products or services. The method is unique because it adjusts over time to account for changes in customer behavior, making it more dynamic and accurate than traditional methods.