Revolutionizing market surveillance: customer relationship management with machine learning.

Journal: PeerJ. Computer science
Published Date: Dec 18, 2024

Abstract

In the telecommunications industry, predicting customer churn is essential for retaining clients and sustaining profitability. Traditional CRM systems often fall short due to their static models, limiting responsiveness to evolving customer behaviors. To address these gaps, we developed the SmartSurveil CRM model, an ensemble-based system combining random forest, gradient boosting, and support vector machine to enhance churn prediction accuracy and adaptability. Using a comprehensive telecom dataset, our model achieved high performance metrics, including an accuracy of 0.89 and ROC-AUC of 0.91, surpassing baseline approaches. Integrated into a decision support system (DSS), SmartSurveil provides actionable insights to improve customer retention, enabling telecom companies to tailor strategies dynamically. Additionally, this model addresses ethical concerns, including data privacy and algorithmic transparency, ensuring a robust and responsible CRM approach. The SmartSurveil CRM model represents a substantial advancement in predictive accuracy and practical applicability within CRM systems.

Authors

  • Xiangting Shi
    Industrial Engineering and Operations Research Department, Columbia University, New York, United States.
  • Yakang Zhang
    Industrial Engineering and Operations Research Department, Columbia University, New York, United States.
  • Manning Yu
    Department of Statistics, Columbia University, Amsterdam Avenue New York, New York, United States.
  • Lihao Zhang
    Department of Information Engineering, Chinese University of Hong Kong, Ho Sin Hang Engineering Building, The Chinese University of Hong Kong, Shatin, N.T, Hong Kong.

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