Customer Relationship Management (CRM) software providing company Salesforce announces the launch of its new Tableau CRM telco churn prediction AI.
The newly released feature aids communications service providers in retaining users and keeping them engaged with existing service offerings.
The prediction tool uses artificial intelligence to accurately identify users who can potentially leave or unsubscribe from the platform.
According to recent data, if customer needs are not satisfied, users are more likely to discontinue their contracts and switch to a different service provider. Therefore the new feature will allow companies to identify such users and take measures to retain them.
Communication service providers can create a single picture of their customers with Churn Predictions for Tableau CRM, which includes revenue and service history, historical customer service interactions, and a measure of account health.
In addition, the artificial intelligence-powered feature also comes with predictive analytics capabilities that display suitable product recommendations and additional discounts for customers to help CSPs retain their customers.
Employees who are in direct contact with customers can use this functionality to better anticipate customer needs and make recommendations for the next steps to improve customer satisfaction.
Gartner analyst Jason Wong said, “To telcos, it’s a big deal because churn is everything to them. (They want to) retain as many customers as possible because switching costs are very expensive — especially when you factor in some of the device giveaways.”
Churn Predictions combines signals and insights from customer interactions and data, including the type of customer service, history, and resolution information, with external data, such as billing, network, and data consumption, using artificial intelligence.
Then the tool analyses gathered data to provide predictive analytics to help users identify which customers may be at a higher risk of terminating services.
Churn Predictions for Tableau CRM is now broadly accessible, and it is a part of Salesforce’s Communications Cloud offering for telecom firms.