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View Code? Open in Web Editor NEWCustomer Relationship Management (CRM) is a comprehensive strategy for building, managing and strengthening loyal and long-lasting customer relationships. It is broadly acknowledged and extensively applied to different fields, for example, telecommunications, banking and insurance, retail market, etc. In any business strategy, one of its main objectives is customer retention. For example, Vodafone should asses the customers’ activities (from their call logs) and hence predict the customers’ churn rate, so that a measure (a special incentive to customers) can be taken to retain them accordingly. The importance of this objective is obvious, given the fact that the cost for customer acquisition is much greater than the cost of customer retention (in some cases it is 20 times more expensive). Thus, tools to develop and apply customer retention models (churn models) are required and are essential Business Analytics applications. In the dynamic market environment, churning could be the result of low-level customer satisfaction, aggressive competitive strategies, new products, regulations, etc. Churn models aim to identify early churn signals and recognize customers with an increased likelihood to leave voluntarily