Integrating the Voice of Customers through Call Center Emails into a Decision Support System for Churn Prediction
AbstractWe studied the problem of optimizing the performance of a DSS for churn prediction. In particular, we investigated the beneficial effect of adding the voice of customers through call center emails – i.e. textual information - to a churn prediction system that only uses traditional marketing information. We found that adding unstructured, textual information into a conventional churn prediction model resulted in a significant increase in predictive performance. From a managerial point of view, this integrated framework helps marketing-decision makers to identify customers most prone to switch. Consequently, their customer retention campaigns can be targeted effectively because the prediction method is better at detecting those customers who are likely to leave.
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Bibliographic InfoPaper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 08/502.
Length: 27 pages
Date of creation: Feb 2008
Date of revision:
customer relationship management (CRM); data mining; churn prediction; text mining; call center email; voice of customers (VOC); binary classification modeling;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-04-04 (All new papers)
- NEP-ICT-2008-04-04 (Information & Communication Technologies)
- NEP-MKT-2008-04-04 (Marketing)
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- D. Thorleuchter & D. Van Den Poel & A. Prinzie, 2011. "Analyzing existing customers’ websites to improve the customer acquisition process as well as the profitability prediction in B-to-B marketing," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/733, Ghent University, Faculty of Economics and Business Administration.
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- K. W. De Bock & D. Van Den Poel, 2011. "An empirical evaluation of rotation-based ensemble classifiers for customer churn prediction," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/717, Ghent University, Faculty of Economics and Business Administration.
- D. Thorleuchter & D. Van Den Poel & A. Prinzie, 2010. "A compared R&D-based and patent-based cross impact analysis for identifying relationships between technologies," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/632, Ghent University, Faculty of Economics and Business Administration.
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