Acquiring a new customer is extremely costly in comparison to retaining an existing one. Hotels are struggling to retain customers because of cut-throat competition among business rivals in acquiring new customers. In the light of the same, hotels have started the loyalty program of accruing points & redeeming the same for upgrades and free holidays.
To build prediction model based on various demographic details of customers alongside other domain specific variables to predict the customer churn. And also, build association rules for identifying the benefit options by establishing tuples of reward points & products
Benefits for the company
Customer retention is crucial if a business needs to expand. Loyal Customers brings numerous benefits to the business such as : Word-of mouth marketing, loyalty, real-time feedback, continous purchase power.
Type of expertise/ AI domain
Internal data required