Meaning ● Churn prediction, crucial for SMB growth, uses data analysis to forecast customer attrition. Predicting which customers are likely to cancel services or stop purchasing allows SMBs to proactively implement retention strategies, enhancing profitability. The use of automated tools in this process streamlines data collection and analysis, providing timely insights. Implementation of churn prediction models allows businesses to pinpoint key drivers of customer dissatisfaction. This proactive approach enables focused efforts toward automation of customer engagement, customized solutions, and improved overall customer experience, supporting sustained growth for the SMB.
