Introduction:
Tesco PLC is a British multinational supermarket chain headquartered in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third largest retailer in the world measured by profits and second-largest retailer in the world measured by revenues. It has stores in 12countries across Asia and Europe and is the grocery market leader in the UK, Ireland, Hungary, Malaysia, and Thailand. The company currently offers products in different categories including Apparel, Bakery, Deli, Dairy, Fresh Produce, General Merchandise, Grocery, Liquor, and Meat.
Tesco launched its customer loyalty scheme, the Tesco Club card, in1995, with two levels (Silver and Gold). It has been cited as a pivotal development in Tesco's progress towards becoming the UK's largest super market chain and one that fundamentally changed the country's supermarket business. Cardholders can collect one Club card point for every £1 they spend in a Tesco store, or at Tesco.com. This enables the company to collect data on purchase behavior of customers and utilize it to design customized offers and conduct targeted retention campaigns.
According to research done by TESCO most business leaders agree that customer retention is vital to the sustainability of their business …show more content…
In literature, neural networks in the past have shown their applicability to churn prediction models and thus this paper considers two hybrid models by combining two different neural network techniques for churn prediction. The research results show that the two hybrid models outperform the single neural network baseline model in terms of churn prediction accuracy which is a very important part since prediction without accuracy would not be
Tesco PLC is a British multinational supermarket chain headquartered in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third largest retailer in the world measured by profits and second-largest retailer in the world measured by revenues. It has stores in 12countries across Asia and Europe and is the grocery market leader in the UK, Ireland, Hungary, Malaysia, and Thailand. The company currently offers products in different categories including Apparel, Bakery, Deli, Dairy, Fresh Produce, General Merchandise, Grocery, Liquor, and Meat.
Tesco launched its customer loyalty scheme, the Tesco Club card, in1995, with two levels (Silver and Gold). It has been cited as a pivotal development in Tesco's progress towards becoming the UK's largest super market chain and one that fundamentally changed the country's supermarket business. Cardholders can collect one Club card point for every £1 they spend in a Tesco store, or at Tesco.com. This enables the company to collect data on purchase behavior of customers and utilize it to design customized offers and conduct targeted retention campaigns.
According to research done by TESCO most business leaders agree that customer retention is vital to the sustainability of their business …show more content…
In literature, neural networks in the past have shown their applicability to churn prediction models and thus this paper considers two hybrid models by combining two different neural network techniques for churn prediction. The research results show that the two hybrid models outperform the single neural network baseline model in terms of churn prediction accuracy which is a very important part since prediction without accuracy would not be