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Motor Vehicle Theft

Introduction

One of the greatest problems across many industries is the loss of its customers.

A business that is set out for profit must actively analyze its customer churn data, to understand the dynamics of customer churn, identify underlying causes of churn, and optimize resources by focusing efforts on retaining high-value customers.

In this project, the customer attrition data for a Multinational Bank was collected from Kaggle and analyzed to estimate the churn rate and primary drivers of churn.

Explore Dashboard

Project Objectives

  • The first objective is to use Python to explore and analyze the bank customer churn data and extract insight into the underlying causes of churn
  • To build an interactive dashboard in Power BI that shows top level KPI’s and customers profile based on churn-rate analysis
  • To use Python and Scikit machine learning algorithm and build a model for predicting bank customer churn

Project Links

Github

Power BI

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Tools used

  • Microsoft Power BI
  • Python
  • Scikit Libraries

Skills Utilized

  • Data Cleaning
  • Feature Engineering
  • Data Modeling
  • Data Analysis
  • Data Visualization
  • Dashboard & Storytelling
  • Model building

Insights

Dashboard 1

Churn Analysis

  • 88.5% of the churned customers subscribed to a month-to-month contract.
  • 53% of the churned customers left in less than a year, of which 20% were churned in one month.
  • 56% had no offer of any type maybe because there were no better offer type available.
  • 62% paid more than the average monthly charges. This could be one of the key driver for churn.
  • The top three reasons for churn were; competitors had better device, better offer, and support persons had a bad attitude

Recommendation

  • The monthly contract should be upgraded to a six months contract, this may lead to low churn rate.
  • A reduction in monthly charges may lower the churn rates as 56% of churn customers payed above average rate.
  • Upgrading to a better device and providing better offer types than the competitions can increased rentention.
  • Implementing a loyalty reward program can help retain high valued customers
  • Re-training of the support staff on customer management will help resolve customers problems and in-turn increase retention rate