Open AccessRetention Rate of Customers in Banks using Neural Networks
Author(s) -
Mr.T.H. Feiroz Khan*,
AUTHOR_ID,
Shrushti Mhaske,
Sonal Yeshwantrao,
Ayush Kumar,
AUTHOR_ID,
AUTHOR_ID,
AUTHOR_ID
Publication year - 2019
Publication title -
international journal of engineering and advanced technology
Language(s) - English
Resource type - Journals
ISSN - 2249-8958
DOI - 10.35940/ijeat.a1932.109119
Subject(s) - customer retention , business , customer profitability , retention rate , profitability index , customer equity , product (mathematics) , marketing , customer to customer , service (business) , mathematics , finance , service quality , geometry
Customer retention is the process of retaining the customers after a particular period of time. Profitability of a product depends upon the retention of the customer. In the earlier systems a lot of money, time and resources were spent on advertising by banks. Banks approached call centres to try convince the customers in buying new policies. This didn’t really work since most of it was directed towards untargeted customers. This same problem of customer retention is studied and a competent solution is found. This system consists of analysed data of a number of customers in numerous fields and checks the retaining rate of every customer. Use of a neural network is advocated to check past conditions of services provided to a customer by the banks and a common retainability index is produced which predicts the retention rate of the new customers.