A Study On “Role Of Customer Analytics In Reducing Customer Churn: Special Reference To Retail Industry In Delhi City

Abstract

Churn, in its simplest form, is when a customer stops buying from a business. The rate or percentage of customers who abandon a brand over time is commonly used to quantify churn. The value flowing from customers to businesses will drop as a result of customer churn.  Brand-loyal customers can increase an organization's core competitiveness and enhance commercial performance. On the other hand Businesses may improve their strategies, products, and customer services with the use of consumer analytics. Customer analytics is a process that gathers, compiles, and analyses customer data from a variety of interactions, funnels, and channels to assist businesses in making better business decisions. In this study, we tried to understand the causes of customer churn in the retail sector, as well as shed some light on creative customer retention strategies, the advantages of customer retention, and the role of customer analytics in lowering customer churn in the retail sector in Delhi city.