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Sysware consultants worked with our client on a highly successful
marketing campaign to reduce home mortgage customer churn.
Our client's marketing division decided to run a campaign to encourage
mortgage customers to stay with the bank. Our client carried out a predictive
modelling exercise using the expertise of our consultants, to identify those
customers most likely to leave the bank. This process involved collecting data
on all mortgage customers, and performing quantitative analysis on a three
month subset of customer churn data.
Applying statistical techniques, our consultants started to get a feel for those
factors that made a difference. They fed these factors into a predictive
modelling tool that uses neural networking techniques to build a model
to predict churn. Our consultants applied this model to all mortgage customers.
This resulted in our consultants being able to provide our clients with a list of
customers ranked in order of their likelihood to churn.
Through a targeted marketing campaign the client has reduced the customer churn rate by a
half, providing a return that is several times the initial investment.
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