IJACIS
Attrition Rate Prediction Using A Frequency-Recency-Monetization-Based Smoteen-Boosted Approach
Businesses today seek to generate more revenue for their products and services. However, attrition or churn for products and services over the digital market space has continued to plague businesses to proffer consumers with various alternates and choices to services and products for competitive money’s worth. Today’s businesses must thus, seek to yield better value while meeting consumer needs cum demands through a retention strategy. Thus, our study utilizes the recency-frequency-monetization as retention model that explores SMOTEEN-based AdaBoost ensemble to study the impact of imbalanced dataset to identify consumer churn. With chi-square feature selection, our proposed model yields F1 0.9819, Accuracy 0.9882, Recall 0.9848, Precision 0.9886, and Specificity 0.9824 respectively with 9632-correctly identified and 15-incorrectly classified cases. Conversely, other scheme yields ranges of F1 [0.6305–0.8875], Accuracy [0.6432-0.8879], Precision [0.6320–0.8805], Recall [0.6128-0.8876] and Specificity [06370-0.8894] respectively. This shows that model yields enhanced performance, and that the explored RFM-retention strategy was found to curb churn and improve monetization.