ANALYTICS PLAN TO REDUCE CUSTOMER CHURN AT YORE BLENDS
Himabindu Aratikatla
University of the Cumberland's
March 22, 2020
Introduction
Yore Blends (YB) is a fictional online company dedicated to selling subscription-based traditional spice blends coupled with additional complementary products.
Yore Blends (YB) aspire to growing through mergers and acquisitions.
To do this, they need a strong customer base and steady revenue.
Yore Blends is concerned with the rate of customer churn.
Company’s Problem
Yore Blends has been in existence for years.
Nonetheless, the company is considering to expand through mergers and acquisition.
However, they are experiencing customer churn.
A considerable percentage of its clients don’t purchase their goods anymore.
As a result, the company needs to reduce customer attrition by at least 16%.
Causes for Customer Churn
Poor customer care service:
The company minimized rather than maximizing client cost
Bad onboarding:
Yore Blends clients failed to get value for the purchased products.
Clients might have lost interest in the company’s products.
Many companies think of customer service as a cost to be minimized, rather than an investment to be maximized. Here’s the issue with that: if you think of support as a cost center, then it will be. That is, if you don’t prioritize support and work to deliver excellent service to your customers, then it’s only going to cost you money…and customers. A disproportionate amount of your customer churn will take place between (1) and (2).
That’s where customers abandon your product because they get lost, don’t understand something, don’t get value from the product, or simply lose interest.
Bad onboarding – the process by which you help a customer go from (1) to (2) – can crush your retention rate, and undo all of that hard work you did to get your customers to convert in the first place.
4
Causes for Customer Churn (Cont.)
Limited customer success:
Lack of updates regarding new products
Extended absence of the company-client communication
Natural Causes:
Customers may have grown out of the products.
May have resulted due to Vendor switches might
While onboarding gets your customer to their initial success, your job isn’t done there. Hundreds of variables – including changing needs, confusion about new features and product updates, extended absences from the product and competitor marketing – could lead your customers away. If your customers stop hearing from you, and you stop helping them get value from your product throughout their entire lifecycle, then you risk making that lifecycle much, much shorter. Furthermore, Not every customer that abandons you does so because you failed. Sometimes, customers go out of business. Sometimes, operational or staff changes lead to vendor switches. Sometimes, they simply outgrow your product or service. (Salloum, 2016)
5
REASONS TO ANALYZE CUSTOMER CHURN
The company will be in a position to understand c.
The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is only 5-20%. Find out how you can increase your retention rate (by reducing customer & MRR churn) and build strong relationships with your customers
Achieving customer loyalty is the best way to keep sales pipelines full. Customer experience management is key to customer loyalty. This whitepaper is about how to achieve customer loyalty in small and medium size busines.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is only 5-20%. Find out how you can increase your retention rate (by reducing customer & MRR churn) and build strong relationships with your customers
Achieving customer loyalty is the best way to keep sales pipelines full. Customer experience management is key to customer loyalty. This whitepaper is about how to achieve customer loyalty in small and medium size busines.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
As a business owner, have you ever thought about what could be better than gaining a new customer? You might be wondering if anything could be better than this.
Well, the answer is customer retention.
Gaining new customers is alluring but retaining customers comes at a lower cost and has the potential to provide a higher return on investments.
How customer retention makes your business invincible.pdfWebMaxy
Are you looking for a way to make your business invincible?
Start focusing on #customerretention! Customer retention is key. Keeping your customers engaged and happy is the best way to ensure your business stays strong.
Learn how to create a #customerretentionplan today and make your business unstoppable! http://bit.ly/3FAfBkq
Get started with WebMaxy for free today: https://calendly.com/webmaxy/30min
#CustomerRetention #BusinessGrowth #Invincible #meaningofcustomerretention #customerretentionmetric #customerretentionstrategies #retainmeaning #customerretaining #customerretentionservices #customerretentionexamples #importanceofcustomerretention
How to analyze churn rate and its effect on businessMahindra Comviva
Churn rate is the loss of customers. It is the measure of customer leaving over a certain time period and is used to identify how much revenue is lost due to this attrition.Churn rate is an important measure used by organizations to understand the revenue opportunity loss.
Customer experience improvement can—and does— drive bottom-line results. So how can we prove that making customers happier can make you and your shareholders happier too?
The cost to acquire one dollar of new customer Annual Recurring Revenue (ARR) is $1.60., while the cost to expand an existing customer is only 69 cents. To successfully drive real growth for your business, you must focus on preserving and expanding the customers you already have.
Despite the obvious advantages of mastering and scaling the renewal process as SaaS companies grow, renewals still pose a big challenge for most. Some of the renewal management challenges for many businesses include:
What impact does Customer Management have on Business PerformanceDoug Leather
We know intuitively that managing the customer portfolio well leads to improved business performance. This slide deck shares important insights into what makes customer management work and how to measure it. This is based on research done by QCi (the main players now with The Customer Framework Ltd) and although I put this deck together 6 years ago I was astounded as to how relevant the thinking still is. The sad reality is that Customer Management capability hasn't improved very much over the years (in the majority of cases, hence we are still subject to inconsistent and poor customer experience) yet it remains a topic that is spoken about and focussed upon by many organisations. The difference that I find today versus 7 or 8 years ago is that MORE people talk about customer management than previously, however I don't se much improvement in the understanding of what it involves or much improved capability in operationalizing customer centric business.(this is a generalised statement)
Identifying causes of customer risk and churn, and then applying approaches for prospective winback, are tremendously important to any company. The content of this presentation enables organizations to optimize customer loyalty behavior
5 Steps to Improve Subscription Customer RetentionVindicia
Read to know five steps on how to make customer retention efforts more effective.
In subscription billing business, customer retention is the next top important thing after acquiring customers so as to maximize recurring revenue. Customer retention significantly improves profits in the long run and is, therefore, important to have effective customer retention strategy.
Learn more about customer retention: https://www.vindicia.com/solutions/digital-customer-retention/
Subscribed 2017: Prevent Subscriber Churn with Zuora InsightsZuora, Inc.
What's the right way to measure churn? Which customers are most at risk? What can you do about it? Join this session to see how Zuora Insights helps you predict churn, measure churn rate, find subscriber segments most likely to churn, and trigger relevant and timely customer engagement that prevents churn.
Slide share Institute for Quality Assurance London - QualityWorld Customer ...Dr. Ted Marra
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Customer experience improvement can—and does— drive bottom-line results. So how can we prove that making customers happier can make you and your shareholders happier too?
The cost to acquire one dollar of new customer Annual Recurring Revenue (ARR) is $1.60., while the cost to expand an existing customer is only 69 cents. To successfully drive real growth for your business, you must focus on preserving and expanding the customers you already have.
Despite the obvious advantages of mastering and scaling the renewal process as SaaS companies grow, renewals still pose a big challenge for most. Some of the renewal management challenges for many businesses include:
What impact does Customer Management have on Business PerformanceDoug Leather
We know intuitively that managing the customer portfolio well leads to improved business performance. This slide deck shares important insights into what makes customer management work and how to measure it. This is based on research done by QCi (the main players now with The Customer Framework Ltd) and although I put this deck together 6 years ago I was astounded as to how relevant the thinking still is. The sad reality is that Customer Management capability hasn't improved very much over the years (in the majority of cases, hence we are still subject to inconsistent and poor customer experience) yet it remains a topic that is spoken about and focussed upon by many organisations. The difference that I find today versus 7 or 8 years ago is that MORE people talk about customer management than previously, however I don't se much improvement in the understanding of what it involves or much improved capability in operationalizing customer centric business.(this is a generalised statement)
Identifying causes of customer risk and churn, and then applying approaches for prospective winback, are tremendously important to any company. The content of this presentation enables organizations to optimize customer loyalty behavior
5 Steps to Improve Subscription Customer RetentionVindicia
Read to know five steps on how to make customer retention efforts more effective.
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Learn more about customer retention: https://www.vindicia.com/solutions/digital-customer-retention/
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ARTIFICIAL INTELLIGENCE
SYSTEMS FOR DECISION SUPPORT
E L E V E N T H E D I T I O N
Ramesh Sharda
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Dursun Delen
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And the number of ethnically-mixed
neighbourhoods will grow with it.
There are areas where minorities
will soon be majorities, such as Birm-
ingham and several London boroughs.
But the internal migration patterns of
our minority population are similar to
those of the majorityionc in five neigh-
bourhoods in England are projected to
be ethnically mixed by 2011.
Of course, most of our diverse pop-
ulation will absorb the broad values
of British society, and there will be
many more children from mixed race
relationships. But it would be a mis-
take to ignore different heritages. We
cannot choos.
Analysis of the Marketing outlook of Ferrari4MARK001W Mark.docxgreg1eden90113
Analysis of the Marketing outlook of Ferrari
4MARK001W Marketing
Principles: Report
Analysis of the Marketing outlook of Ferrari
Company Coursework 1: Apple Inc.
Company Coursework 2: Ferrari S.p.A.
Module Leader: Norman Peng
Seminar Tutor: Norman Peng
Student: Paolo Savio Foderaro W1616642
Marketing Report �1
Norman
Highlight
Analysis of the Marketing outlook of Ferrari
I. Introduction 3
II. PEST Analysis 4
III. Porter’s Five Forces Analysis 6
IV. SWOT and Positioning Strategy Analysis 8
V. Ansoff Matrix 10
VI. Ferrari’s Social Responsibility 11
VII.Referencing List 12
Marketing Report �2
Analysis of the Marketing outlook of Ferrari
Ferrari S.p.A
(Ferrari Corporate)
“Give a kid a paper sheet and some colours and ask him to
draw a car, for certain the car will be red” (Enzo Ferrari)
I. Introduction
A prancing black horse on a yellow background is not something that could pass unnoticed.
Destined to become an icon of style, luxury and speed, the first Ferrari made its appearance to the
public in 1947, eight years after the foundation by the Italian entrepreneur Enzo Ferrari of Auto
Avio Costruzioni, what would come to be, later on, the well-known brand Ferrari.
Throughout the history the company divided itself into the developing and production of
racing cars, becoming one of the most successful racing team in the world, and of luxury cars
distinguishing itself for the excellence of the Italian manufacture. As a matter of fact Ferrari’s cars
are build following the ideal of perfection in terms of design, power and elegance conveyed by the
Marketing Report �3
Analysis of the Marketing outlook of Ferrari
founder, Enzo Ferrari, who was used to say: “The best Ferrari is the next one” (Enzo Ferrari, no
date).
From its foundation till today Ferrari’s mission statement has been to build unique sport
cars, symbols of Italian excellence both on the road and on track. At the end of 2015 the Italian
sport car manufacturer can praise more than 7500 cars sold with a presence in 62 worldwide
markets and a net revenues of 2,854 millions of euros (Ferrari, Annual Report 2015).
Herein, the purpose of the report will be to analyse in the first part the external factors that
influence the company’s business. Then I will take into account the industry within which the
company operates in. After that, I will examine the strategic position of the company in the market
and the marketing strategy utilised for its products, namely sport cars. Finally I will conclude taking
into consideration sustainability and ethic-related issues that the company is dealing with.
(Ferrari Corporate)
II. PEST Analysis
The first concern for a company’s business is to understand and deal with all the external
factors that could affect the company’s future performance. It is worth saying that all possible
external factors are not under control of.
Analysis of the Monetary Systems and International Finance with .docxgreg1eden90113
Analysis of the Monetary Systems and International Finance with Focus on China and Singapore
Name
Institutional Affiliation
Analysis of the Monetary Systems and International Finance with Focus on China and Singapore
Regional Economic Integration and Economic Cooperation
The Asian region is among the leading international economic powerhouses due to its economic potential and size with countries such as China and Singapore dominating the region. Nonetheless, the capacity constraints in various Asian nations and the diversity of the continent complicate the efforts to create a unified market in the Far East. Achieving success in Asia's regional economic integration requires high commitment levels among the member countries in addition to the effective implementation of various initiatives to facilitate economic cooperation (Rillo & Cruz, 2016). I consider China and Singapore as significant players in the global and Asian economies due to their volumes of traded goods and investments in their local and foreign markets. For instance, China leads in the Asian continent, and its economy is the second largest in the world based on its nominal gross domestic product as an indicator of market performance. On the other hand, Singapore's highly developed economy is among the most rapidly growing in the world, and this has allowed the country from a third-world nation into a developed country in about five decades. I also observe that variations scope and breadth exist in regional economic integration, and the economic integration in the East Asia region initially assumed a market-oriented cooperation process before transforming into an economic integration drive.
My understanding is that a trade bloc refers to a form of an agreement between different governments that reduce or eliminate trade barriers to increase trade volumes among the member states. I have also learned that the trade blocs can exist as independent agreements between specific countries or form components of regional organizations. The trade blocs can further be categorized as monetary and economic unions, common markets, customs unions, free trade areas, and preferential trading areas. In Asia, the intergovernmental agreements have resulted in some regional trade agreements as well as the formation of the ASEAN trading bloc. I noted that China and Singapore are currently members of the Association of South-East Nations trading block alongside eight other countries in Southeast Asia. The primary objectives of ASEAN include the facilitation of sociocultural, educational, military, political, and economic integration as well as promoting intergovernmental cooperation in the region (Berman & Haque, 2015). The first stated aim of ASEAN is enhancing the competitiveness of the region in the international market as a production base by eliminating non-tariff and tariff barriers within the member states. The second aim of ASEAN is increasing the volume of FDI's to the Southeast Asia .
Analysis of the Barrios Gomez, Agustin, et al. Mexico-US A New .docxgreg1eden90113
Analysis of the B
arrios Gomez, Agustin, et al.
Mexico-US: A New Beginning
. COMEXI, 2020.
Write a summary and included the relevance to globalization, trade, finance, and immigration for international economics.
1-2 pages double-spaced; include footnotes/reference sources.
.
Analysis of Literature ReviewFailure to develop key competencie.docxgreg1eden90113
Analysis of Literature Review
Failure to develop key competencies and behaviors has been researched before through studying the workplace conflicts. In essence, workplace conflicts are inevitable mainly when employees are people from various backgrounds and different work styles that are brought together for the sake of shared business objectives. The history of organizations failing to develop competencies is quite long, and only a few studies have shown that about 30% of organizations have initiatives to improve behaviors among employees (Sperry, 2011). Previous have depicted several progressive organizations that use a leadership competency model to assist in outlining key skills and behaviors wanted by managers, supervisors, and executives.
Several questions remain unanswered about this subject, and they exist in some ways. First, the question is about the guilty of facilitation of workshops with management. It happens because organizations fail to identify and specify the essential competencies that apply to particular issues in the organization. Ideally, organizations need to shuffle and prioritize on the generic competencies as well as behaviors that would require management leaders to help in solving problems that may arise in the workplace (Sperry, 2011). Second, there is no proof of the competencies that matter to organizations. Indeed, there is must empirical data about the key behaviors that have the most significant effect on the engagement of employees, attraction, customer levels, and productivity of the employees in several organizations (Frisk & Larson, 2011).
The current best practices in dealing with this particular type of organization conflict are many and precisely based on the supervisors, managers, and executives. Develop towering strengths that would help in overshadowing weaknesses in the organization. Ideally, good leadership development always tries to magnify small natural strengths to highly energized strengths that would result in double improvement (Halász & Michel, 2011). The current best practice is the application of the competency models to assist leaders in improving their effectiveness, especially when dealing with employee behaviors in the organization.
Design Proposal and Outline
Topic of Training
The topic of training is using competency models for development and building of key competencies and behaviors in an organization.
Reason for the Choice
The topic is chosen because the primary purpose of the competency model is to assist leaders in the improvement of their effectiveness in developing key competencies and behaviors in an organization. The strengths cross-training is a common thing in an organization since it is closely associated with competency and behavior improvement (Sperry, 2011).
Subsequently, the topic is narrow enough to address in two-hour training since it is quite specific. The topic is based on enhancing the competency framework at the workplace which is indeed critical i.
Analysis Of Electronic Health Records System1C.docxgreg1eden90113
Analysis Of Electronic Health Records System
1
Chyterria Daniels
Capella University
May 3, 2020
Introduction
Merit-founded Incentive Payment System (MIPS) is a platform for value-founded settlement under the Quality Payment Program (QPP). The system aims at fostering the current innovation and improvement in clinical operations. MIPS mean that the organization should rationalize Physician Quality Reporting System (PQRS) (Meeks & Singh, 2019). Meaningful use guidelines are certain facets of an HER system that providers will be needed to use in their organization.
2
MIPS denote Merit-founded Incentive Payment System.
It is a platform for value-founded settlement under the Quality Payment Program (QPP)
It aims at fostering the current innovation and improvement in clinical operations
MIPS means that the organization should rationalize Physician Quality Reporting System (PQRS)
Meaningful use guidelines are certain compliance facets of an HER system that providers will be needed to use in their organization.
It means that the organization should have its set meaningful use guidelines
Current State of Compliance
The organization has set technology in the ICU
EHR not integrated to accommodate patient’s needs
Application of computers to draw guidance and instructions on conditions
Availability of lab information system
No replacement of diagnosing equipments
Independence Medical Center’s Electronic Health Records (HER) system has complied with some set guidelines. For instance, the healthcare organization has set technology system in its intensive care units. In addition, there is use of computers to draw guidance and instructions regarding several conditions on patients. However, the organization has not obeyed some guidelines like the replacement of outdated diagnosing equipment and lack of integrating EHR to accommodate all patients’ needs (Boonstra & Vos, 2018).
3
Current EHR Used in the Organization
Laboratory Information System (LIS)
Computerized Physician Order Entry (CPOE)
Central Supply System
Pharmacy system
Picture Archiving and Communication System (PACS)
Independence Medical Center’s Electronic has set up various EHR systems for use in different departments to deliver healthcare services to patients. For instance, the organization has implemented PACS, which is a health check imaging technology which offers reasonable storage and expedient admission to images from numerous modalities (Data & Komorowski, 2017).
4
Evaluation of EHR
The electronic health record system used in the ambulatory system lacks integration to accommodate patient’s needs. The system does not alert physician on drug interactions and other warning. On another point, each department has its exclusive system making it hard to share information between staff members in various units (Boonstra & Vos, 2018). An effective EHR system should be in a position to enable information transmission to all staff.
Analysis of element, when we perform this skill we break up a whole .docxgreg1eden90113
Analysis of element, when we perform this skill we break up a whole into its constituent parts. It is the identification and separation of the prts or components that constitute a communicatio. we look at the communivation in details so as to determine its natura. The elements ir parts are then classified or labeled into categoties.
There are a total of 5 text. I need to make an outline of each text. The last 2 pages is an example of how it should be done. If there are any questions please let me know.
.
Analysis of a Career in Surgery
Student Name
Professor Williams
English 122 02H
Date Due
Outline
Thesis: This analysis will explore the education, training, and career of a Surgeon.
· Introduction
· Definition of Surgeon
· Qualities of a Surgeon
· Thesis, Purpose, and Audience
· Source and Scope of Research
· Career Analysis
· Education
· Undergraduate Degree
· Application Requirements
· Medical School
· Residency & Fellowship
· Life of a Surgeon
· Duties and Responsibilities
· Surgery
· Teaching
· Research
· Work/Life Balance
· Employment Prospects
· Career Growth
· Advancement Opportunities
· Pros and Cons
· Conclusion
· Summary of Findings
· Interpretation of Findings
· Recommendations
Analysis of a Career in Surgery
INTRODUCTION
A career as a surgeon is long, incredibly difficult, competitive, costly, and one of the most rewarding pursuits you can have in your life. Something not typically mentioned to aspiring pre-medical students is the complicated nature of applying to medical school and residency. Much more is required than just a set of good grades. Volunteer work in the community, leadership and research experience, writing and interviewing skills, are all necessary for a successful application to medical school. All of those things are required yet again, when applying to surgical residency.
Before digging into all those things, let’s look at the definition of a surgeon. The United States Department of Labor, Bureau of Labor Statisticsdescribes the surgical profession in the Occupational Outlook Handbook as the following: “Using a variety of instruments, a surgeon corrects physical deformities, repairs bone and tissue after injuries, or performs preventive or elective surgeries on patients.” This is a strict definition however; a more useful outlook would be to focus on what traits lend themselves to becoming a successful surgeon.
There is a useful list created by the American College of Surgeons (ACS), titled, “So You Want to Be A Surgeon: An Online Guide to Selecting and Matching with the Best Surgery Residency,” which aims at current medical students. The guide says that a surgeon should work well as a member of a team; enjoy quick patient outcomes; welcome increasing responsibility; excel at solving problems with quick thinking; be inspired by challenges; and love to learn new skills (American College of Surgeons). The ACS recommends looking into a surgical career if you believe some or all of those traits apply to you. However, there is no such thing as a “standard surgical resident” and the ACS points out that “surgeons are trained, not born.…Becoming a good surgeon is a lifelong process.”
For students interested in pursuing a surgical career, this analysis will explore the education, training, and career of a Surgeon. Information for objective analysis will be taken from multiple sources including article databases, government sources, a personal interview with an orthopedic surgeon, the American College of Sur.
Analysis Assignment -Major Artist ResearchInstructionsYo.docxgreg1eden90113
Analysis Assignment -
Major Artist Research
Instructions
You will select one of the major, heard-of artist mentioned in the textbook as a subject for your research paper.
Step 1: Research the artist and a theme within their work
This paper should be more than just being "about" the artist. More than a biography.
Identify a theme or central idea about the artist or his/her artwork (your thesis) as it relates to a theme explored in Module 4 (Part 4 of the textbook) and then build the paper around that idea.
Select an artist from the list below:
Ana Mendieta
Chuck Close
Robert Mapplethorpe
Faith Ringgold
Kehinde Wiley
Carrie Mae Weems
Judy Chicago
Cindy Sherman
Yasumasa Morimura
Shirin Neshat
The expectation is that the research should represent information from several sources (
at least four -- websites will only count as sources if they are online versions of print material
) and that any direct borrowing of wording from these sources will be indicated by quotation marks and listed on the works cited page.
Step 2: Write the analysis
Draft your thesis (remember, this is not a biography paper so your thesis needs to be about the art)
Research information about the artist and their background
Identify a common theme within the artist works
What is the context of their work? Cultural? Spiritual? Political? Historical?
Step 3: Before you submit... make sure that you have the following:
The analysis length should be a minimum of 3 pages. (Not including the Works Cited page)
The paper should meet normal standards for documentation (citations and works cited such as found in the Modern Language Association, 8th ed.).
Use MLA format (Times New Roman 12-point size font, double-spaced, appropriate in-text citations, Works Cited page, etc...)
At least four sources -- websites will only count as sources if they are online versions of print material
Similarity Report must within 0-10%
.
Analyse and evaluate Burberry’s tangible resources(stores,building.docxgreg1eden90113
Analyse and evaluate Burberry’s tangible resources(stores,buildings,materials,money,employees)
300-400 words
2-3 cites
ANDERSEN
UNITED STATES HISTORY I
SPRING 2019
1
BIOGRAPHY ASSIGNMENT
Overview: It has been proven that writing in history class helps students learn and retain information.
Academic biographies are especially useful for this purpose due to their format and use of primary source
materials. Thus the intention of this assignment is to familiarize students with United States history by writing
an informed and articulate review of a specific American biography. All components of this assignment are
directed towards the completion of critical review of a major biography in United States history.
Instructions: Students are free to choose their own topics, subject to my approval. I encourage students to
choose topics that personally interest them. For example, students interested in politics may wish to select a
president like Andrew Jackson or Abraham Lincoln. It is your responsibility to do some preliminary research on
your subject and consult with me before you begin your project.
Once you have chosen your topic, you must choose a book. Students are free to select a book of their own
choosing, subject to my approval. Books should be around three hundred pages in length and from a reputable
publisher (such as an academic or major commercial press.) At the end of this document is a list of pre-
approved books.
Your paper itself a critical analysis of the book that you have read. The review may be positive, negative, or
qualified. You must analyze (not just summarize) the book’s structure and argument, use of source materials,
readability, and overall usefulness to people in learning about United States history through the life of your
subject. Papers should be free of grammatical and typographical errors.
Required format:
• Font – Use either Times New Roman (12pt), Calibri (11pt), or Arial (11pt).
• Margins – 1 inch margins all around
• Page numbers starting with 1 at the bottom and centered on each page after the cover sheet.
• Double-space, do not include extra spacing between paragraphs.
• Reviews should be at least three full pages. There is no maximum length. The cover sheet and works cited do not
count towards the three page minimum.
• Name, full title of book review prefixed with “Review of,” course information (class and section number), and
date should be single spaced, center aligned, and placed in middle of the cover sheet. Example:
Jack D. Andersen
Review of American Lion: Andrew Jackson in the White House
HIST 1301-21300
October 28, 2019
• The essay should be organized into multiple paragraphs including an introduction, body paragraphs, and a
conclusion.
• All citations, including the works cited page, should be in accordance with the Chicago Manual of Style, 16th
Edition. MLA, APA, or any other format is not acceptable.
• Please refer to the Writi.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
ANALYTICS PLAN TO REDUCE CUSTOMER CHURN AT YORE BLENDS Himabin.docx
1. ANALYTICS PLAN TO REDUCE CUSTOMER CHURN AT
YORE BLENDS
Himabindu Aratikatla
University of the Cumberland's
March 22, 2020
Introduction
Yore Blends (YB) is a fictional online company dedicated to
selling subscription-based traditional spice blends coupled with
additional complementary products.
Yore Blends (YB) aspire to growing through mergers and
acquisitions.
To do this, they need a strong customer base and steady
revenue.
Yore Blends is concerned with the rate of customer churn.
Company’s Problem
Yore Blends has been in existence for years.
Nonetheless, the company is considering to expand through
mergers and acquisition.
However, they are experiencing customer churn.
A considerable percentage of its clients don’t purchase their
goods anymore.
As a result, the company needs to reduce customer attrition by
at least 16%.
2. Causes for Customer Churn
Poor customer care service:
The company minimized rather than maximizing client cost
Bad onboarding:
Yore Blends clients failed to get value for the purchased
products.
Clients might have lost interest in the company’s products.
Many companies think of customer service as a cost to be
minimized, rather than an investment to be maximized. Here’s
the issue with that: if you think of support as a cost center, then
it will be. That is, if you don’t prioritize support and work to
deliver excellent service to your customers, then it’s only going
to cost you money…and customers. A disproportionate amount
of your customer churn will take place between (1) and (2).
That’s where customers abandon your product because they get
lost, don’t understand something, don’t get value from the
product, or simply lose interest.
Bad onboarding – the process by which you help a customer go
from (1) to (2) – can crush your retention rate, and undo all of
that hard work you did to get your customers to convert in the
first place.
3. 4
Causes for Customer Churn (Cont.)
Limited customer success:
Lack of updates regarding new products
Extended absence of the company-client communication
Natural Causes:
Customers may have grown out of the products.
May have resulted due to Vendor switches might
While onboarding gets your customer to their initial success,
your job isn’t done there. Hundreds of variables – including
changing needs, confusion about new features and product
updates, extended absences from the product and competitor
marketing – could lead your customers away. If your customers
stop hearing from you, and you stop helping them get value
from your product throughout their entire lifecycle, then you
risk making that lifecycle much, much shorter. Furthermore,
Not every customer that abandons you does so because you
failed. Sometimes, customers go out of business. Sometimes,
operational or staff changes lead to vendor switches.
Sometimes, they simply outgrow your product or service.
(Salloum, 2016)
5
REASONS TO ANALYZE CUSTOMER CHURN
The company will be in a position to understand client behavior.
The firm can predict clients with the probability of churning.
4. Contributes to customer retention programs.
Helps in the identification of the causes of client churn.
Customer churn analysis refers to the customer attrition rate in
a company. This analysis helps SaaS companies identify the
cause of the churn and implement effective strategies for
retention. Gainsight understands the negative impact that churn
rate can have on company profits. Named as the "2014 cool
vendor for CRM sales" (by Gartner), Gainsight’s customer
intelligence and retention process automation technology:
Gathers available customer behavior, transactions,
demographics data and usage pattern
Converts structured and unstructured data/information into
meaningful insights
Utilizes these insights to predict customers who are likely to
churn
Identifies the causes for churn and works to resolve those issues
Engages with customers to foster relationships (Salloum, 2016)
Implements effective programs for customer retention
6
Effects of Customer Churn
In the event that the company experiences customer churn, it
will be affected in the following ways;
It hurts the company’s valuations.
5. Gives advantages to the exiting competitors.
Customer churn is an indication of bigger problems for the
company.
The eventualities of client churn are long-reaching for the
company.
The Aftermath of Churn is Long-Reaching
Some businesses think, “If a customer stays long enough to pay
for the cost of acquiring them, then we’ve operated at a net
profit.” This ignores all the value you’ve lost from future
opportunities with them. You’ve now lost the chance to upsell
them with other products or services in your portfolio. You’ve
reduced your total addressable market because those customers
have been removed from it. What’s more, your brand is now
likely tarnished in the minds of your spurned customer.
Churn Helps Your Competitors
Churned clients tend to be vocal about why they’ve left you.
Negative customer reviews are a gift to your competitors. As
positive customer references can often make or break a deal,
negative references act as powerful ammunition for your
competitors to position against your product. And your
competitors have no qualms about using them again and again
with new prospects (Hazen, 2014). Those churned customers
just may come back to prevent you from closing your next deal
and hitting your revenue goals.
High Customer Churn May Indicate Bigger Problems
Just like happy marriages don’t end in divorce, happy customers
rarely leave. High churn indicates that something is failing in
your customer relationships. Has your product or service failed
to deliver on client expectations? Does your customer
onboarding process need to be fixed? Are you devoting enough
attention to your clients? Even if a high churn rate is from
6. factors beyond your control, it reflects poorly on your company
and your product.
Churn Hurts Your Valuation
Churn rate is a critical factor in how investors view your
company. VC firms look at customer churn to determine if your
product has legs on the market, and retention rate is essential in
Software-as-a-Service (SaaS) public valuations. Smart SaaS
investors use Customer Lifetime Value (LTV) as a metric to
predict how much profit you will make and analyze the health
of a company. High churn rates reduce LTV and can make
investors doubt the strength of your business. So, if you’re
churning and burning your customers, you’re likely making
your investors pretty unhappy.
8
How Your Yore Blends can Identify Customer Churn Possibility
Decreasing number of support ticket
Negative reviews and increasing complaints
Reducing website activity
Not having many support tickets might sound like a good thing,
but it can suggest that customers are unengaged and have not
fully adopted the company’s product. You could assume they’re
a product genius who never needs help, but it’s more likely they
haven’t invested in the product and aren’t taking the time to
figure it out. Your product might be on the budget chopping
7. block next year.
Direct feedback, including negative reviews and social media
complaints, is one of the best indicators of company’s
customers' risk status. It's clear that these customers have a
problem with the product, service, or organization, and just
because they didn't explicitly mention leaving doesn't mean they
aren't thinking about it.
By using a tool like web tracking, the HR may be able to see
when customers view cancellation or downgrade pages – a clear
sign they’re interested in moving on from the company’s
product. (Hazen, 2014)
9
Churn Analysis in Yore Blends
Yore Blends should carry out churn analysis to avoid loosing its
clients.
This analysis will help the company to;
Measure churn rate
Monitor churn rate
Reduce churn rate
To prevent losing customers through customer attrition,
companies turn to churn analytics. This type of analytics helps
them measure, monitor and reduce the churn rate. The need for
customer churn analytics is one of the reasons clients turn to BI
implementation services. In this article, our BI experts
summarize the main benefits customer churn analysis can bring
8. and explain how to conduct it. (Hazen, 2014)
11
Appropriate Data Source for Churn Analytics
Company’s billing System
Portfolio of the company’s products
Customer profiling based on customer care services
Client’s sentiments on the company’s blogs and posts
Proposed Customer Calculations fo for Yore Blends
Calculating customer (=subscription) churn alone is not
informative enough for this company, as the percentage of all
customers who choose to cease the relationship with the
company does not reflect its impact on your bottom line. To
understand how customer churn affects the companys it is
necessary to calculate gross revenue churn (the percentage of
revenue that is lost during a targeted period) or employ more
complex calculating methods.
13
Considerations When Calculating Churn Rate
Sample size
9. Time frame
Customer segments
Seasonality
sample size
Early on and under conditions of hyper growth, calculated churn
rate is just as much a product of our small sample size as it is a
number that’s representative or predictive of how well the
company’s service retains customers. There is often little data
in terms of number of cohorts and how the cohorts behave over
time.
Under these conditions, it’s important to recognize the
limitations of the inferences you can draw from your churn rate.
Time frame
The company may be looking at customer churn over the period
of a week, month, quarter, or year. Also, they want their
calculation to be robust with respect to the timeframe chosen.
The company should avoid their calculation going from
generally correct to wildly incorrect when they move from a
monthly frame to a quarterly frame.
Customer segments
An aggregated number dissolves the differences between the
company's customers, and that can lead to a misunderstanding
of the churn number if it is just take it at face value. For
instance, growth in a higher churn customer segment could be
mistaken for increased churn overall, and that could lead down
the wrong path of trying to fix a non-existent churn problem.
Seasonality
If the business varies based on the season, the customer’s churn
may show changes that correspond with the seasonality of the
business that might be hard to understand until they gone
through several cycles.
14
10. Appropriate Churn Models
Identification of the best data:
The company must first obtain quality and substantive data for
accuracy of results.
Selection of Attributes:
The company’s analyst must select the best attribute from the
available ones.
Identification of the best data
Experience shows that the quality and suitability of the
available data determines the accuracy and predictive power of
the resulting model. Different data combinations may be better
or worse indicators for different problems and for different
areas of business. Ultimately, it is a question of identifying the
data that best fit the type of analysis being carried out. Only in
this manner could useful and usable knowledge (in business
terms) be extracted in subsequent stages of analysis. (Erl, 2016)
. Selection of Attributes
In this stage, the most appropriate attributes or features for
prediction must be selected from those available to the analyst,
which, in a supervised PR setting, which is the most common in
the literature of churn IDA, would be those that minimize the
classification or prediction error; in an unsupervised learning
setting, which might address churn analysis as a market
segmentation problem, would be those which best reflect the
11. grouping or cluster structure of the data. From a DM process
point of view, this stage would correspond to the phase of data
pre-processing. (Waller and Fawcett, 2013)
15
Identification of the Best Data
Selection of Attributes
Appropriate Churn Models
(Cont.)
Development of a predictable model :
The use of a model that extracts data patterns from the available
data.
In this case, regression analysis is the best model to be used by
the company.
Results validation:
Results can best be validated using the repeated random sub-
sampling technique.
Development of a predictable model
Computational Intelligence (CI) methods provide, in one form
or another, flexible information processing capabilities for
handling real life problems. Exploiting the tolerance for
imprecision, uncertainty, approximate reasoning and partial
truth in order to achieve tractability, robustness, low solution
cost and close resemblance with human-like decision making, is
the overall objective of CI methods.
12. Results validation
Cross-validation will be the most suitable in this cases in which
data is scarce. In its most simple version, a single split of the
data is generated (such as the 70/30 used in [46]; the 70% of
cases used as training set and the 30% remaining as validation
set). Cross-validation is based on the principle of using the
available data for both training and validation. (Erl, 2016)
18
Regression Analysis
Random Sub-Sampling Technique
Prevention of Client Value Attrition
This analysis involves more than just the prediction of customer
churn.
It gives access to prediction of clients with a declining lifetime
value
Gives the company an opportunity to increase revenue from
existing clients.
Optimove goes beyond simply predicting which customers will
abandon the business by providing early warnings regarding
customers whose lifetime value prediction has declined
substantially during the recent period, even though they are still
active and may not abandon the business entirely in the near
future. (Erl, 2016)
Optimove’s ability to identify customers which fall into this
13. “decliner” category helps marketers increase revenues from
existing customers, while simultaneously reducing the number
of customers who may fall into the risk-of-churn category.
21
How to Reduce Customer Churn
Analyze causes of churn
Engage with clients
Offer incentives
Communicating with the customers does miracles in analyzing
churn. The company needs to be actively using all channels for
that: phone, e-mail, website, live chat, and social media. The
valuable feedback on how well they serve their customers is just
a phone call, an e-mail or a survey away. Also, another way to
prevent churn is to actively engage the customers with the
product (Agarwal, 2014). The company should give its
customers reasons to keep coming back by showing them the
day-to-day value of using their products, by making their
products and services a part of their daily workflow. Lastly,
offering incentives and discount offers is widely regarded as the
most effective tactic in reducing churn.
22
14. Solution
to Customer Churn
Acquisition and aggregation of data
Data integration and analysis
Data interpretation
Phase 1: Data Acquisition and Aggregation
The first phase of this customer churn analytics engagement
revolved around combining data obtained from disparate
sources and customer touch points to identify customers with
the highest churn risk.
Phase 2: Data Integration and Analysis
The second phase focused on integrating and analyzing data
using advanced statistical models to generate comprehensive
insights that help predict churn & analyze factors leading to
15. customer churn. (Agarwal, 2014)
(Phase 3: Data Interpretation
In the third phase of this customer churn analytics engagement,
the company should focus on interpreting data & developing
corrective measures to reduce the business risk of existing
customers switching to its competitors’ network by
implementing innovative ways to improve the overall customer
experience
23
Conclusion
Yore Blends should identify possibilities of churn before it
happens.
Appropriate churn analysis will help the company reduce
chances of loosing clients.
The most appropriate analysis technique should be executed.
Failure to identify gaps will lead to decrease in company’s
revenue.
References
16. Agarwal, R., & Dhar, V. (2014). Big data, data science, and
analytics: The opportunity and challenge for IS research.
Waller, M. A., & Fawcett, S. E. (2013). Data science, predictive
analytics, and big data: a revolution that will transform supply
chain design and
Erl, T., Khattak, W., & Buhler, P. (2016). Big data
fundamentals: concepts, drivers & techniques. Prentice Hall
Press. management. Journal of Business Logistics, 34(2), 77-84.
References
Salloum, S., Dautov, R., Chen, X., Peng, P. X., & Huang, J. Z.
(2016). Big data analytics on Apache Spark. International
Journal of Data Science and Analytics, 1(3-4), 145-164.
Hazen, B. T., Boone, C. A., Ezell, J. D., & Jones-Farmer, L. A.
(2014). Data quality for data science, predictive analytics, and
big data in supply chain management: An introduction to the
problem and suggestions for research and
applications. International Journal of Production
Economics, 154, 72-80.
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