Hybrid retention strategy formulation in telecom based on k-means clustering analysis
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TL;DR
An idea of formulating hybrid strategy to retain valuable customers using clustering technology is proposed and the dataset of a Chinese telecom company is used as an illustrative case study to demonstrate the feasibility and rationality of the method.
Abstract
The formulation of appropriate retention strategy is a core issue of CRM. This paper proposed an idea of formulating hybrid strategy to retain valuable customers using clustering technology. The hybrid strategy is composed of the sub-strategies for different levels. The dataset of a Chinese telecom company is used as an illustrative case study to demonstrate the feasibility and rationality of the method.