The Client owns a leading specialty chain of pharmacy and wellness stores in Ahmedabad, India, providing pharmaceuticals, medications, and wellness products to the community and consumers. As a component of its business, it sponsors a popular customer loyalty program.
The Smarten model demonstrated remarkable performance, achieving 98% accuracy in predicting customer churn on the testing dataset.
After a period of four months the Client reviewed the outcomes and provided valuable feedback on the performance of the Smarten solution and its alignment with Client strategies. The model predicted that 943 customers were at risk of churning. To avoid attrition, the Client reached out to customers with a significant prediction of churn, and successfully influenced 572 to make purchases. Only 371 customers did not return. This customer retention improvement resulted in an average Customer Lifetime Value (CLV) of ₹6,12,832.56 for each customer. The Smarten analytical model resulted in a very accurate churn prediction, and successfully identified at-risk customers, and the Client continues to run and use this model every quarter to manage customer churn.
Analytics and BI Platform, Assisted Predictive Modeling, Augmented Analytics, Augmented Analytics Benefits, Augmented Analytics Case Studies, Augmented Analytics Solution, BI Tools, Case Study, Smarten Case Studies
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