AI and The Future of Fiction: Exploring Narratives Beyond Human Imagination
Pursuing profitability and a loyal customer base in the current conflict via opposition banking structure requires understanding and predicting customer churn. This research focuses on the usage of Machine Learning (ML) techniques with a view of developing a predictive model regarding customer churn in the context of banking industries. The use of transactional patterns, previous customer data, and other behavioral traits enables the training of ML algorithms apropos to and deployed for usage. We are planning to discover early signs and trends that could help foresee that a customer is about to churn by applying the above algorithms. To this end, the following are some of the benefits financial institutions can harness from this kind of predictive capacity: The proposed model can help to enable such proactive approaches to retention and marketing because it envisages which of its consumers are likely to go where, and when their attrition is most probable. The ability of the project to, enhance overall organizational effectiveness, enhance the levels of customer satisfaction, and fashion better customer loyalty are the aspects that put the project in the right place within the banking industry. Considering the life cycle of market change and complex customer’s behaviour, the use of machine learning to predict the customer churn is one of the strategic tools which allows financial institutions to build long-term customer relationship and make a proper decision based on the customer data gained."
Authors
- Arsen Nahum Pasaribu (ORCID: https://orcid.org/0000-0002-7216-4966)
- Wido Hartanto
- Liliana Muliastuti (ORCID: https://orcid.org/0000-0003-4224-1761)
- Loso Judijanto (ORCID: https://orcid.org/0009-0007-7766-0647)
- Kundharu Saddhono (ORCID: https://orcid.org/0000-0001-8720-7343)
- Aida Azizah
Institutions
- Sebelas Maret University (ID)
- University of HKBP Nommensen (ID)
- State University of Jakarta (ID)
- Sultan Agung Islamic University (ID)
- Universitas Muhammadiyah Tapanuli Selatan (ID)
Publication Details
- Published
- 2024-11-23
- DOI
- https://doi.org/10.1109/icicat62666.2024.10922794
- Primary Topic
- Computational and Text Analysis Methods
- Type
- article
- Field-Weighted Citation Impact
- 0.00