Customer Churn Analysis and Prediction in Banking Industry using Machine Learning

• Python
• Machine Learning

Churning means a customer who leaves one company and transfers to another company. It is not only a loss in income but also other negative effects on the operations and also mainly Customer Relation Management is very important for banking when the company considers it as they try to establish long-term relationships with customers and also it will lead to increase their customer base. The service provider's challenges are found in the behavior of the customer and their expectations. In the current generation, people are mostly educated compared to previous generations. So, the current generation of people is expecting more policies and their diverse demand for connectivity and innovation. This advanced knowledge is leading to changes in purchase behavior. This is a big challenge for current service providers to think innovatively to reach their expectations. .As the banking industry faces increasing competition and higher customer expectations, accurately predicting customer churn has become a critical factor for banks in their efforts to retain customers and enhance overall customer satisfaction. Understanding the underlying factors that contribute to customer churn can provide valuable insights that help banks develop targeted retention strategies, optimize the customer experience, and improve overall customer relationship management practices.