Essays on What Are the Main Kinds of Attrition Assignment

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The paper "What Are the Main Kinds of Attrition" is an outstanding example of a business assignment. Three types of attrition exist between the customers and the company. Involuntary attrition occurs when the firm terminates the bond that links it to the customers. In this case, it arises when the consumer is not able to pay the bills making the company suffer a loss. Expected attrition occurs when the client does not exist in the market as expected by the company. The sales volume thus reduces due to the absence of the customer.

For example, when a person develops, he will tend to change the eating habits in terms of changing the foodstuffs. As a result, they will not need the bay food anymore. The firm, therefore, will seek other types of products or changes their mode of production to keep the demand of the customer intact (Berry & Linoff,   2010). Forced attrition involves when the company decided to employ certain measures to retain the customer. For instance, a company may lower the price of the product to lure or retain the clients of a particular commodity.

Some of the clients may run away from buying a product because of the high prices. In this instance, the consumer moves out of the shopping complex involuntarily. The person may be willing to purchase the product but encounters financial constraints. Evidently, many people tend to confuse these three types of attrition. It is important to note the differences to know the future performance of the company as well as the determination of the production prospects. Through these attritions, one can adjust their way of performance to avoid losing their potential customers.

The worst point of confusing these types of attritions is that the company may use the money to retain the customer but later become a bad debtor (Berry & Linoff,   2010). The firm loses twice because of the cost of retaining the customer and that of providing for the bad debt. Therefore, data mining asserts that it is important to address both the voluntary and involuntary attritions due to the changing behaviors of the customers. The two attritions will cover both the adverse and positive sides of the company.

That is, all the clients are at risk for both types of attritions at varying degrees.

References

Bari, A., Chaouchi, M., & Jung, T. (2014). Predictive analytics for dummies. Hoboken, NJ: John Wiley & Sons.

Berry, M. J., & Linoff, G. (2010). Data mining techniques: For marketing, sales, and customer relationship management. Indianapolis: Wiley.

Boire, R. (2013). Predictive analytics: The power to predict who will click, buy, lie, or die. J Market Anal, 1(3), 184-185. doi:10.1057/jma.2013.14

Cappelli, P., Newmark, D., & National Bureau of Economic Research. (2001). External job churning and internal job flexibility. Cambridge, MA: National Bureau of Economic Research.

Fitz-enz, J., & Mattox, J. (2014). Predictive analytics for human resources.

Zhang, Z., & Zhang, P. (2015). Seeing around the corner: an analytic approach for predictive maintenance using sensor data. Journal of Management Analytics, 2(4), 333-350. doi:10.1080/23270012.2015.1086704

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