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Introduction:
The purpose of this project is to conduct a customer churn analysis for RBC (Royal Bank of Canada) bank using Power BI. The project aims to provide insights to the bank management team that can help them identify factors contributing to customer churn and take proactive measures to reduce churn rate.
Background:
Customer churn is a critical issue for banks as it can lead to revenue loss and damage to the bank's reputation. RBC bank management team is keen to understand the factors that contribute to customer churn and identify opportunities to improve customer retention.
Methodology:
The project involves collecting and analyzing customer data from various sources, such as transaction details, credit card details, demographic data and many more. Data is transformed and modeled using Power BI to create interactive and visually appealing dashboards that present key performance indicators (KPIs) such as customer churn rate, and customer demographics.
The project is focuses on identifying trends and patterns in customer behavior and identifying customer segments that are more likely to churn. The project is also aim to identify the root causes of customer churn and provides recommendations for reducing churn rate and improving customer retention.
Outcomes:
The outcomes of the project include:
Conclusion:
This project will enable the RBC bank management team to make data-driven decisions to improve customer retention and drive business growth. The insights gained from the analysis can inform business decisions and help to reduce customer churn rate, improve customer satisfaction, and drive revenue growth.