COMMUNICATION & NETWORKING

How Verizon Cut Customer Churn By 0.5 Per Cent

Posted: Wednesday, Oct 08, 2003 at 0000 hrs IST
Updated: Wednesday, Oct 08, 2003 at 0000 hrs IST

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Seattle: Verizon Wireless is the largest wireless service provider in the United States with a customer base of 34.6 million subscribers. The company had an annual revenue of $19.3 billion with 40,000 employees. Verizon, which used data warehousing to manage its churn problem, shared its user experience in a conference organised by Teradata in Seattle recently.

Verizon Wireless’ principal data mining engineer Ksenija Krunic pointed out that the average churn rate was 2 per cent per month. The average cost of acquiring a new customer ranges from $320-$360 as per industry analysts.

TECH FOCUS

Data Warehousing
 Data Warehousing: Data Warehousing is the process of capturing, storing and analyzing data to gain business insight for better decision making.

 Data Mart Consoli-dation: Data mart consolidation is the process of combining isolated data marts within a company to create an enterprise datawarehouse.

 Data Mining: Using software with built-in algorithms to discover previously unknown relationships in data.

 Analytic Solutions: They are the software, hardware and services designed to aid in the analysis of information in a data warehouse.

 Churn: Churn stands for customer turnover. Companies offer churn management software that helps companies predict and prevent customer...

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