Churn Prediction
Another application of Crossing Minds’ embeddings is a solution for consumer churn. By periodically analyzing one consumer’s embedding, and comparing it to trained patterns of historical behaviors, we can detect certain forms of churn before it’s too late. This results in better marketing insights reduced marketing cost and increased retention.
Our technology is designed to use interaction data, based on consumers and product embeddings to predict new interactions using probabilistic models. This allows a churn rate to be predicted with a minimum of historical data, as opposed to a strictly linear or statistical model.
Accurate models of customer churn prediction lead to a plethora of advantages for your business. Knowing churn rates can allow new customer acquisition to be ramped up before the churn rate becomes large enough of a problem to impact profitability.
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