A STUDY ON THE EFFECTIVENESS OF BIG DATA ANALYTICS IN CUSTOMER RETENTION STRATEGIES AT CRYPTEX TECHNOLOGIES, NAGPUR

Abstract

Big data analytics has become a cornerstone for modern businesses aiming to enhance customer retention strategies. The study explores how Cryptex Technologies, Nagpur, leverages advanced analytical tools to understand customer behaviour, predict churn, and implement targeted retention measures. The research examines key components of big data analytics, including customer segmentation, predictive modelling, and personalized communication, and their role in driving customer loyalty. A mixed-method approach was adopted, involving qualitative interviews with key stakeholders and quantitative analysis of company data to evaluate the impact of these strategies on customer retention metrics. Findings reveal a significant correlation between the adoption of big data techniques and improved retention rates, emphasizing the importance of integrating analytical insights into business processes. The study also highlights challenges, such as data security and the need for skilled personnel, while offering practical recommendations for overcoming these barriers. This research provides valuable insights for organizations seeking to optimize customer retention through data-driven strategies, contributing to the existing body of knowledge in customer relationship management and analytics.