A large retail company wanted to improve its customer retention rate. It gathered data from customer surveys, support tickets, and sales to identify trends in why customers were leaving. A SWOT analysis found strengths in brand name and loyal customers, but also high prices, poor customer service, and lack of product selection. The company analyzed root causes like high overhead costs and lack of training. It proposed solutions like reducing costs, expanding products, and promotions. An action plan was developed and implemented, which effectively reduced churn and improved retention.

1. Case Study: A Retail Company
Dr Nagarajan G
Professor, MBA Department and Research
RajaRajeswari College of Engineering,
Mysore Road Bengaluru-560074

2. Case Study: A Retail Company
Overview
A large retail company wants to improve its customer
retention rate. The company has a large customer
base, but it loses a significant number of customers
each year. The company wants to identify the reasons
why customers are leaving and develop strategies to
keep them coming back.

3. Data Gathering
• The company gathers data from a variety of sources, including
customer surveys, customer support tickets, and sales data. The
data is analysed to identify trends and patterns.
SWOT Analysis
• The company conducts a SWOT analysis to identify its strengths,
weaknesses, opportunities, and threats. The analysis shows that
the company has a strong brand name and a loyal customer base.
However, the company also faces competition from online
retailers and brick-and-mortar stores.

4. Identifying Key Issues
The company identifies several key issues that are contributing
to Customer Satisfaction. These issues include:
• High prices
• Poor customer service
• Lack of product selection
• Online competition

5. Analyzing Root Causes
•The company analyses the root causes of the key
issues. For example, the company finds that high
prices are due to the company's high overhead
costs. The company also finds that poor
customer service is due to a lack of training for
customer service representatives.

6. Proposing Solutions
The company proposes several solutions to the key
issues. These solutions include:
•Reducing overhead costs
•Training customer service representatives
•Expanding product selection
•Offering discounts and promotions

7. Action Plan
• The company develops an action plan to implement the
proposed solutions. The action plan includes a timeline for
implementation and a budget.
Conclusion
• The company implements the action plan and monitors the results.
The company finds that the solutions are effective in reducing
customer churn(Churn is the measure of how many
customers stop using a product) and improving customer
retention.

8. Business Analytics in Action
There are four key types of business analytics:
• Descriptive analytics: This type of analytics is used to interpret historical
data to identify trends and patterns.
• Predictive analytics: This type of analytics uses historical data to forecast
future outcomes.
• Diagnostic analytics: This type of analytics is used to identify the root
causes of problems.
• Prescriptive analytics: This type of analytics uses data to recommend
solutions to problems.

9. •Business analytics can be used to improve a variety of
business processes, including:
•Customer retention, Product development, Supply
chain management, Marketing, Financial planning.
•Business analytics can help businesses to make better
decisions, improve efficiency, and increase
profitability.