How do we create a product our customers want? For Star Financial, it was Product and Customer Research that helped answer this question. This endeavor started with synthesizing customer records to understand what potential existed in leveraging data already in the hands of STAR Financial. The goal of such efforts was to better understand and serve its client base.
Using both current and past customer information, customer churn could be understood and predicted. Given the behavior of past customers prior to attrition, it could be predicted which customers were likely to exhibit similar traits, enabling a recourse strategy to be implemented.