Interpreting a Markov Chain analysis

You are a customer retention analyst at a subscription-based streaming service. Your task is to understand customer behavior across three states: Free Trial, Paid Subscription, and Churned. By analyzing the probabilities in the Markov chain model, you aim to identify where customers are most likely to transition and provide recommendations for improving retention and subscription growth.

The Markov Chain analysis by your team results in the following transition probabilities.