Year: 2021
Type: review
Abstract: The customer churn prediction model is required by many companies to predict the risk of customer churn and take necessary actions to prevent churn.Recently, machine-learning techniques are highly applied in customer churn prediction.In this paper, machine learning-based models are applied to the customer churn prediction, which is reviewed with their advantages and limitations.Random Forest methods were highly used in the existing customer churn prediction models due to their advantages of effectively analyzing the features in the data.Feature selection methods such as Particle Swarm Optimization (PSO) and Firefly algorithms were applied to improve the prediction process.The Ensemble classifiers of bagging and boosting of random forest are applied to the prediction of customer churns which achieves higher performance.Deep learning models such as Long Short Term Memory (LSTM) and Convolution Neural Network (CNN) were applied for prediction and achieves higher performance.Random forest model, LSTM, and CNN models have the limitations of overfitting problem of customer churn prediction.Feature selection techniques of PSO and firefly methods have the limitations of poor convergence and lower efficiency in handling the imbalanced dataset.
Institution: Jawaharlal Nehru Technological University Anantapur
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W3204712220