Improve Customer Retention with Data - Driven Insights
Leverage data analysis to identify key customer insights and improve retention rates to fuel business growth.
Over the past year, your employer has experienced a decline in the number of returning customers and a corresponding decline in revenue. To investigate, the company leveraged customer feedback and surveys and determined that the decline in retention rates is likely due to a combination of factors, including; a lack of variety in our product offerings, poor customer service, and increased competition from other retailers. As a Data analyst, your employer invites you to explore the factors contributing to the decline in retention rates and identify potential solutions to improve retention and increase revenue.
Efforts / Hours
To begin solving the challenge at hand, you will undertake the following steps;
Data Cleaning and Processing
Clean, organize and prepare data for analysis & building narratives.
Visualize data to build trends, patterns, and statistics to identify factors contributing to low customer retention.
Data Analysis and Reporting
Use data insights, patterns & statistical evidence to propose solutions to increase customer retention.
- Gain hands-on experience with real-world data analytics.
- Leverage analytical tools to propose solutions that aid business development.
- Get feedback on your project from data experts in a 1:1 mentoring session.
- Build a portfolio that makes you stand out to recruiters.
How will this project help you?
This project will empower you to:
- Analyze customer feedback to make informed business decisions.
- Leverage data analysis to identify blockers in customer retention & propose solutions.
- Enhance your decision-making abilities by using data to forecast potential outcomes of various solutions.