Subscription Economies can Use Prediction and Data Analysis to Reduce Customer Churn
A subscription business model is built on the idea that companies can capitalize on the compounding value of customer relationships through subscriptions. In this regard, Software as a Service (SaaS company) has evolved over the last twenty years from infancy to empowering companies with a significant influx of business.
The average amount of time it takes to fully implement a new software product has plummeted from 57 hours ten years ago to 7 hours today thanks to improved technical breakthroughs in the web industry. With an estimated 11,000 SaaS companies today the flexibility, accessibility, cost-effectiveness, and the wide range of features offered by cloud-based SaaS enterprises are luring more and more organizations.