Any type of company that offers a service, product, or experience needs a solid understanding of their relationship with their customers; therefore, customer relationship management (CRM) is a key element of modern marketing strategies. One of the biggest challenges that businesses face is the need to understand exactly what causes a customer to buy new products.
In this chapter, we will work on a real-world marketing database provided by the French telecom company, Orange. The task will be to estimate the likelihood of the following customer actions:
- Switch provider (churn)
- Buy new products or services (appetency)
- Buy upgrades or add-ons proposed to them to make the sale more profitable (upselling) ...
