Where is this use of data already being applied?
Telecommunications service provider O2 uses data analytics to predict cancellations. By analyzing the data, patterns for terminations are created. This can be used to make predictions about the likelihood of termination for each contract partner for two to eight weeks in advance. With this information, O2 approaches its customers and creates offers for customer retention.
The media group Netflix uses data analytics to identify cancellation intentions in advance (e.g. with information on series/movie cancellations, times between use, decreasing usage time per visit over time, ratings). This information is used to create special offers for these customers or customer groups.