An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers
(1) This study aims to predict the youth customers’ defection in retail banking. The sample comprised 602 young adult bank customers. (2) The study applied Machine learning techniques, including ensembles, to predict the possibility of churn. (3) The absence of mobile banking, zero-interest personal...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-05-01
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| Series: | Data |
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| Online Access: | https://www.mdpi.com/2306-5729/7/5/61 |
| _version_ | 1797500433900503040 |
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| author | Vijayakumar Bharathi S Dhanya Pramod Ramakrishnan Raman |
| author_facet | Vijayakumar Bharathi S Dhanya Pramod Ramakrishnan Raman |
| author_sort | Vijayakumar Bharathi S |
| collection | DOAJ |
| description | (1) This study aims to predict the youth customers’ defection in retail banking. The sample comprised 602 young adult bank customers. (2) The study applied Machine learning techniques, including ensembles, to predict the possibility of churn. (3) The absence of mobile banking, zero-interest personal loans, access to ATMs, and customer care and support were critical driving factors to churn. The ExtraTreeClassifier model resulted in an accuracy rate of 92%, and an AUC of 91.88% validated the findings. (4) Customer retention is one of the critical success factors for organizations so as to enhance the business value. It is imperative for banks to predict the drivers of churn among their young adult customers so as to create and deliver proactive enable quality services. |
| first_indexed | 2024-03-10T03:03:46Z |
| format | Article |
| id | doaj.art-578827f1544d4c6d937243e4045c4ade |
| institution | Directory Open Access Journal |
| issn | 2306-5729 |
| language | English |
| last_indexed | 2024-03-10T03:03:46Z |
| publishDate | 2022-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Data |
| spelling | doaj.art-578827f1544d4c6d937243e4045c4ade2023-11-23T10:37:44ZengMDPI AGData2306-57292022-05-01756110.3390/data7050061An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of CustomersVijayakumar Bharathi S0Dhanya Pramod1Ramakrishnan Raman2Symbiosis Centre for Information Technology, Symbiosis International, Deemed University, Pune 411057, IndiaSymbiosis Centre for Information Technology, Symbiosis International, Deemed University, Pune 411057, IndiaSymbiosis Institute of Business Management, Pune, Symbiosis International, Deemed University, Pune 412115, India(1) This study aims to predict the youth customers’ defection in retail banking. The sample comprised 602 young adult bank customers. (2) The study applied Machine learning techniques, including ensembles, to predict the possibility of churn. (3) The absence of mobile banking, zero-interest personal loans, access to ATMs, and customer care and support were critical driving factors to churn. The ExtraTreeClassifier model resulted in an accuracy rate of 92%, and an AUC of 91.88% validated the findings. (4) Customer retention is one of the critical success factors for organizations so as to enhance the business value. It is imperative for banks to predict the drivers of churn among their young adult customers so as to create and deliver proactive enable quality services.https://www.mdpi.com/2306-5729/7/5/61retail bankingcustomer churnmachine learningyoung adultsensemble modeldigital |
| spellingShingle | Vijayakumar Bharathi S Dhanya Pramod Ramakrishnan Raman An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers Data retail banking customer churn machine learning young adults ensemble model digital |
| title | An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers |
| title_full | An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers |
| title_fullStr | An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers |
| title_full_unstemmed | An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers |
| title_short | An Ensemble Model for Predicting Retail Banking Churn in the Youth Segment of Customers |
| title_sort | ensemble model for predicting retail banking churn in the youth segment of customers |
| topic | retail banking customer churn machine learning young adults ensemble model digital |
| url | https://www.mdpi.com/2306-5729/7/5/61 |
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