Table 1 customer groups classified by contract type and contract status
From: Machine learning based customer churn prediction in home appliance rental business
Customer Groups | Description |
|---|---|
Churn | Customers who left the service after contract termination |
Re-subscription (mid-term renewal and expiration renewal) | • Customers who re-subscribed after termination In case of renewal in the middle of the contract (creating a new contract with a new device): it is often recommended to sell a new model or replace it with a model with different specifications while renewing the contract • In case of renewal at the time of expiration: the contract is renewed due to the expiration of the contract period |
Contract maintenance | Customers who continued to use the service (customers who maintain contracts with existing devices) |